What does PEP mean?

When you create and verify your Bondora account, you must confirm whether or not you are a Politically Exposed Person. If you don’t know what that means, keep watching to find out.

When creating your account, you must complete the Know-Your-Customer or KYC form. This is a legal requirement from the European Commission’s Anti-Money Laundering and Counter-Terrorist Financing directive.

One of the questions asks if you are a PEP, which stands for Politically Exposed Person. A PEP is a person who, in the last year, has been assigned a prominent public role or has a high-ranking political role.

If a close relative or business associate is a PEP, you can also be seen as a Politically Exposed Person.

You can rest assured that your personal information is secure, and we will process it according to our strict Privacy Policy.

And that’s it! Thanks for watching, keep investing, and see you again next time.

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