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What is a PEP?

A Politically Exposed Person (PEP) refers to an individual who is or has been entrusted with a prominent public position in the Philippines with substantial authority over policy, operations, or the use or allocation of government owned resources; a foreign state or an international organization. 

 

The term PEP shall include immediate family members, and close relationships and associates that are reputedly known to have:

 

1. Joint beneficial ownership of a legal entity or legal arrangement with the main/principal PEP;

2. Sole beneficial ownership of a legal entity or legal arrangement that is known to exist for the benefit main/principal PEP.

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