What is Politically Exposed Person?
In this glossary, Politically Exposed Person refers to: An individual entrusted with prominent public functions, whose position exposes them to a higher risk of involvement in bribery or corruption, as defined in FATF and Wolfsberg guidance.
How is Politically Exposed Person used in finance?
In finance communication, this term appears in contexts such as: "Enhanced due diligence is required for accounts held by a politically exposed person due to higher money laundering risks."
Why does Politically Exposed Person matter in finance?
Politically Exposed Person matters because it supports clear communication in Banking contexts for Financial Analysts, Bankers, and Traders. It also connects to aviation training and exam language such as CFA, ACCA, and FRM.
Who uses Politically Exposed Person?
Politically Exposed Person is mainly used by Financial Analysts, Bankers, and Traders.
What category does Politically Exposed Person belong to?
In this glossary, Politically Exposed Person is grouped under Banking. Related pages in this category explain adjacent procedures, commands and operational concepts.
Where does this definition come from?
This definition is sourced from CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework and published by Protermify Finance as a static finance reference page.
