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1d: -0.50%
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$103,437.00
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1d: -4.96%
7d: -6.50%
$0.00001436
-4.96%

Politically Exposed Person (PEP)

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Table of contents
    1. 0.2. How PEPs Are Classified
    2. 0.4. Why PEP Status Matters

A Politically Exposed Person (PEP) is someone who holds a prominent public position or has significant political influence, which may increase their risk of being involved in financial crimes like bribery or money laundering.

How PEPs Are Classified

PEPs can include heads of state, government officials, senior executives of state-owned companies, and their close relatives or associates. Financial institutions and crypto platforms often flag PEPs during Know Your Customer (KYC) checks and apply enhanced due diligence (EDD) to monitor their activity more closely.

Why PEP Status Matters

In the crypto space, identifying PEPs is crucial for maintaining compliance with anti-money laundering (AML) laws. Since PEPs can pose a higher risk of corruption or financial abuse, platforms are required to take extra precautions when onboarding or transacting with them.