A person is politically exposed if he or she either holds or has held a high-ranking important public office at international, European or national level, or if an immediate family member or a person known to be close to him or her fulfils this requirement.
Who are immediate family members?
A family member within the meaning of the Money Laundering Act (MLA) is a close relative of a politically exposed person, in particular:
the spouse or registered partner under the Civil Partnership Act,
the children and their spouse or registered partner under the Civil Partnership Act,
Who is a known close person?
A known related person within the meaning of the Anti-money Laundering Act (AMLA) is a person who;
together with a politically exposed person, is the beneficial owner of certain associations or legal structures,
is the sole beneficial owner of such an association or legal structure which was established for the benefit of a politically exposed person, or
maintains other close business relations with a politically exposed person.
The aforementioned associations or legal structures include:
legal representatives under private law (e.g. joint-stock companies, limited liability companies),
registered partnerships (e.g. general partnerships, limited partnerships),
trusts, foundations without legal capacity if the purpose of the foundation is self-interested from the founder's point of view
as well as legal structures that correspond to such foundations in their structure and function.
Who is considered to be a PEP?
Heads Of State And Government, (Deputy) Ministers Or State Secretaries,
Members of The European Commission,
Members of Parliament and Members of similar legislative bodies,
Members of the Governing Bodies of political parties,
Members of Supreme Courts or Judicial Authorities,
Members of the Governing Bodies of audit institutions and Central Banks,
Ambassadors, Chargés D’affaires and Defence Attachés,
Members of the Management, Administrative and Supervisory Bodies of State-owned enterprises; and
Directors, Deputy Directors, Members of the Governing Body or other leaders with a comparable function in an intergovernmental international or European organisation.