1 What is PEP 2 EXAMPLE OF PEP 3 TYPE OF RISK CATEGORY 4 SANCTION COUNTRY

Question

Accepted Answer

PEP stands for Politically Exposed Person. It refers to individuals who hold prominent public positions or have close associations with such individuals.

PEPs are considered high-risk customers due to their potential involvement in corruption, money laundering, and other financial crimes.
Examples of PEPs include heads of state, government officials, and senior executives of state-owned enterprises.
PEPs are categorized as either domestic or foreign, depending on whether they hold public positions in the same country as the financial institution or in a foreign country.
Sanction countries are those that are subject to economic sanctions by the United Nations, the European Union, or other international organizations.

Accepted Answer

PEP Stand for Politically Exposed Person.who hold prominent public positions.
government officials. PEP consider as high risk customer. Need to enhance due deluge verification .
There are basically three types of risk categories depending upon customer profile and some other aspects.low ,medium and high risk customer.
Sanction country’s refer to economic sanction by United Nation.

1 What is PEP 2 EXAMPLE OF PEP 3 TYPE OF RISK CATEGORY 4 SANCTION COUNTRY

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