What does ‘politically exposed person’ mean and why do you ask this question?
Politically exposed persons are individuals who perform any of the following important public functions. We ask this question because, according to the Anti-Money Laundering Act, all financial institutions need to know whether they provide these services to prominent political figures or to their relatives and associates. Here is the full list:
- heads of state, heads of government, ministers and deputy ministers or assistant ministers;
- members of parliaments or other legislative bodies;
- members of constitutional courts, supreme courts or other supreme bodies of the judiciary, whose decisions are not subject to subsequent appeal except in exceptional circumstances;
- members of the Court of Auditors;
- members of central bank governing bodies;
- ambassadors and heads of diplomatic missions;
- senior officers of the armed forces;
- members of administrative, management or supervisory bodies of state enterprises and companies with sole owner – the state;
- mayors and deputy mayors of municipalities, mayors and deputy mayors of regions and chairmen of municipal councils;
- members of the governing bodies of political parties;
- heads and deputy heads of international organizations, members of management or supervisory bodies in international organizations or persons performing an equivalent function in such organizations.
Which people are associated with politically exposed persons?
Related parties with prominent political figures are:
- spouses or persons living in de facto cohabitation;
- children of prominent political figures and their spouses or persons with whom they live in de facto cohabitation on a marital basis;
- parents and their spouses or persons with whom they live in de facto cohabitation on a marital basis;
- brother / sister and their spouses or persons with whom they live in de facto cohabitation on a marital basis;
- any natural person who is known to be the beneficial owner jointly with a prominent political figure of a legal entity or other legal entity or is in other close commercial, professional or other business relationships with prominent political figures;
- any natural person who is the sole owner or beneficial owner of a legal person or other legal entity known to have been created for the benefit of a prominent political figure.
How do I know if I am connected to a politically exposed person?
You may mark that you are associated with a politically exposed person, if there is any such person among your closest relatives – parents, spouses (partners), children, siblings and their spouses (partners). If you are hesitant, you can contact us, and we will give you a detailed explanation. In these cases, our specialists can contact you for more information, and you will receive feedback.
What is the purpose of providing information whether I am a politically exposed person or related to such?
We are asking you this question because we are complying with the requirements of the Anti-Money Laundering Act. In these cases, our specialists can contact you for more information, and you will receive feedback.
