PEP - Poltically Exposed Person
In accordance with anti-money laundry laws, your bank must know if you are a politically exposed person.
The meaning of PEP
A Politically Exposed Person (PEP) is a someone who has, or has had, important public roles within state, government or international orginaizations. PEP also include family members or known co-workers of such a person.
A PEP is, through his/her position, someone who could be exposed to corruption or bribery. Examples of roles and positions are governmental roles, judges in high court, ambassadeurs and high rank military employees.
Find out more at Swedish Bankers' Association.