A person is considered politically exposed if they currently or previously held a significant public position at the international, European, or national level. Additionally, individuals who are known to be closely associated with politically exposed persons, such as immediate family members, fall under this category.
Immediate family members, as defined by the Money Laundering Act (MLA), include the spouse or registered partner under the Civil Partnership Act, children and their spouses or registered partners, as well as parents.
A known close person, according to the Anti-money Laundering Act (AMLA), refers to individuals who meet one of the following criteria:
- They are the beneficial owner of certain associations or legal structures together with a politically exposed person.
- They are the sole beneficial owner of an association or legal structure established for the benefit of a politically exposed person.
- They maintain close business relations with a politically exposed person.
The aforementioned associations or legal structures encompass various entities, such as private law legal representatives (e.g., joint-stock companies, limited liability companies), registered partnerships (e.g., general partnerships, limited partnerships), trusts, and foundations without legal capacity if their purpose is self-interested from the founder's perspective. Other legal structures that share similar characteristics and functions to these foundations are also included.
Politically exposed persons (PEPs) comprise the following individuals:
- Heads of state and government, deputy ministers, or state secretaries
- Members of the European Commission
- Members of parliament and similar legislative bodies
- Members of governing bodies of political parties
- Members of supreme courts or judicial authorities
- Members of governing bodies of audit institutions and central banks
- Ambassadors, chargés d'affaires, and defense attachés
- Members of the management, administrative, and supervisory bodies of state-owned enterprises
- Directors, deputy directors, members of governing bodies, or other leaders with comparable functions in intergovernmental international or European organizations.