What is a PEP check?

Section 26 of the AML/CFT Act requires that we take reasonable steps to determine whether a Verified Payee is a Politically Exposed Person (PEP) or a close associate of a PEP.

When you complete your Payee Verification details, your name is checked against a watch list service from Dow Jones which includes the following checks:

  • Global Sanctions and PEP (Political Exposed Person) lists
  • SIP’s (Special Interest Person)
  • RCA’s (Relative or Close Associate)

Being a PEP does not mean you cannot be a Verified Payee on Givealittle. It just means a few more questions may be asked.