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Company ownership and PEP status
A Politically Exposed Person (PEP) is someone who holds a position of prominence or influence in the organisation's country of operation or elsewhere, and is therefore more at risk of being involved in bribery or corruption. PEPs can also include direct or indirect family members of the primary PEP, such as parents, children, spouses, siblings, uncles, and aunts. Examples of PEPs include members of parliament, heads of state and government, ministers, diplomats, judiciary, senior executives and board members of state-owned enterprises and central banks, high-ranking officers in the armed forces, and senior staff of international multilateral organisations and committees. "Close associates" are anyone with a close business relationship or joint beneficial ownership of legal entities or legal arrangements with a PEP.
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ESG Tracker Knowledge Base | 2024