PEP – person in a politically exposed position
According to the requirements of the Money Laundering Act, your financial institution needs to find out whether you as a customer are a politically exposed person.
This means PEP
A person in a politically exposed position (PEP), is a person who has or has had important public functions in a state or in an international organization. The term PEP also includes family members or known associates of a politically exposed person.
A PEP is considered to hold a position that can be exposed to, for example, corruption and bribery. The professions and positions in question include members of parliament, judges in the highest instance, ambassadors and senior officers.
More information about PEP can be found on the Swedish Bankers' Association's website.