Who is considered "close" to a PEP?

Núria
Núria
  • Updated

Someone close to a PEP is considered to be someone:


✧ who has joint beneficial ownership of a legal entity, joint legal arrangement, or any other business relationship with an a PEP; or
✧ who is the beneficial owner of a legal entity or legal arrangement that has been established for the benefit of a PEP.


CLOSE Business Relationships means a reference to a business relationship or transaction with a person in which the individual is a beneficiary.

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