PEPlijsten

PEPlijsten are compilations used by banks, financial institutions, and other obliged entities to identify politically exposed persons (PEPs) for enhanced due diligence under anti-money laundering regulations. A PEP is an individual who holds or has held a prominent public function, as well as their immediate family members or close associates. PEPlijsten can be internal databases maintained by an organization or external databases provided by specialized risk vendors.

The primary purpose of PEPlijsten is to support a risk-based compliance program. By screening customers, beneficial owners, and ongoing transactions against PEP lists, institutions assess the potential for higher corruption risk and apply enhanced due diligence when warranted. This often includes additional verification of source of funds, closer monitoring of activities, and, in some cases, higher approval requirements for account relationships.

Regulatory context for PEPlijsten stems from international and regional anti-money laundering frameworks, notably guidelines from the Financial Action Task Force and European Union AML directives. These rules require identification of PEPs and proportionate enhanced due diligence to mitigate the risks associated with politically exposed persons.

Sources for PEPlijsten vary; some are built in-house, while others rely on licensed external databases that combine PEP information with related risk indicators. Limitations of these lists include the potential for false positives, privacy and data protection considerations, and the ongoing cost of maintaining current and accurate data. Related concepts include Know Your Customer (KYC), adverse media screening, and broader risk management in financial crime prevention.