We are required by law to identify politically exposed persons (PEPs). This is a routine background check that ensures the transparency of the financial system and the security of payment transactions.
How does it work in practice?
- Verify your information: By verifying your information, you ensure that your invoices and payments are processed without delay. Without this verification, we are legally prohibited from transferring funds to your account.
- No unnecessary red tape: The survey contains just one question. Once you’ve answered it, you can focus fully on your work.
- Legal requirement: This is not a voluntary request for information, but a financial industry standard designed to protect all parties.
Are you a PEP or a close contact?
This definitionapplies to you if:
- You hold a prominent public office: for example, as a member of Congress, a minister, an ambassador, or the head of a state-owned company.
- You are a family member: the spouse, child (or child’s spouse), or parent of a PEP.
- You are a business partner: You own the company together with a PEP or have another close business relationship with them.