Definition: Domestic PEPs, an abbreviation for Politically Exposed Persons, denote individuals who hold influential positions within their own country’s political landscape. These positions may encompass high-ranking governmental roles, parliamentary memberships, judicial positions, or senior executive positions within state-owned enterprises. Domestic PEPs are subject to heightened scrutiny in the realm of anti-money laundering (AML) and counter-terrorism financing (CTF) endeavors due to their potential influence and susceptibility to corrupt practices.

Practical Examples:

  1. The President of a nation and their immediate family members fall under the purview of domestic PEPs.
  2. Government ministers, officials, and mayors occupying significant positions within the domestic political structure are regarded as domestic PEPs.
  3. Senior executives within government-owned entities or corporations are also categorized as domestic PEPs.

Statistics and Relevant Numbers:

  • According to a report by the Financial Action Task Force (FATF), domestic PEPs present an elevated risk of involvement in money laundering and corruption due to their access to public funds and positions of authority.
  • The Global Corruption Barometer by Transparency International indicates that domestic PEPs are widely perceived as individuals with high levels of corruption, thus exacerbating the challenges in combating financial crimes.

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