What is PEP category?

Politically Exposed Persons (PEP) are individuals who are or have been entrusted with prominent public functions either domestically/foreign country/ international organization.

What is a PEP check?

What are PEP and Sanction checks? PEPs and Sanctions checks are often discussed simultaneously as they are both required by KYC laws. These checks allow you to see if a company has been sanctioned or if a politically exposed person is connected to the company.

What is PEP and why we need to check there profile?

Political Exposed Persons (PEPs) are defined as high-risk customers who have greater opportunities than ordinary citizens to acquire assets through illegal means such as taking bribes and money laundering. PEPs have to be identified and screened in financial institutions because of the risks they have.

How long is PEP status?

Regulation 35(9)(a) and (b) provides that a person who is a PEP should continue to be treated as a PEP for a period of at least 12 months after the date on which that person ceased to be entrusted with that public function; or for such longer period as the relevant person considers appropriate to address risks of money …

What are the three types of PEP?

A PEP is an individual who holds a prominent public position or role in a government body or international organisation, either in Australia or overseas. Immediate family members and/or close associates of these individuals are also considered PEPs.

What is PEP full form?

PEP (post-exposure prophylaxis) means taking medicine to prevent HIV after a possible exposure. PEP should be used only in emergency situations and must be started within 72 hours after a recent possible exposure to HIV.

What is PEP in AML?

A Politically Exposed Person (PEP) is an individual with a prominent public post or a public function. According to Financial Action Task Force (FATF), a PEP is: a person who is or has been in the executive, legislative, military, administrative or judicial branch of the government.

What is PEP and who should take it?

PEP stands for post-exposure prophylaxis. PEP is for people who have possibly been exposed to HIV. It is only for emergency situations. PEP must be started within 72 hours after a possible exposure to HIV.

Is a PEP always high risk?

Foreign PEPs are always considered high risk and require the application of enhanced due diligence measures, as for all higher risk customers as described in Recommendation 10.

How can you tell if someone is PEP?

Businesses are not required to perform extensive investigations to determine if an individual is a PEP. Rather, this can be achieved via a simple AML check which includes a screen against a register of publicly known individuals with public functions, their associates and close family.

What is the brand name for PEP?

Answer

What are the two types of PEP?

PEP is a combination of three drugs. You take them once or twice a day for 28 days: For adults, the CDC recommends tenofovir, emtricitabine (these two drugs come in one pill), and a third drug, either raltegravir or dolutegravir.