Spanish translation: personas expuestas políticamente (PEP)
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English to Spanish translations [PRO] Bus/Financial - Social Science, Sociology, Ethics, etc. / Due Diligence - Banking
English term or phrase:PEP
PEP is defined as:
- A current or former senior official in the executive, legislative, administrative, military or judicial branches of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior executive of a foreign government-owned corporation.
- This includes any corporation, business, or other entity that has been formed by, or for the benefit of, a PEP; the immediate family of a PEP, including the official’s parents, siblings, spouse, children and in-laws; or a close associate of a PEP, who is a person that is widely and publicly known to maintain a close relationship with a PEP.
- This includes a person who is in a position to conduct substantial domestic and international financial transactions on the behalf of a PEP.