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What is a PEP (politically exposed person)?

Buypass AS, through its subsidiary Buypass Payment AS, is subject to the Act on Measures Against Money Laundering and Terrorist Financing. The money laundering regulations require Buypass to have strengthened control measures with politically exposed persons. The purpose of the requirement is to prevent funds originating from corruption being laundered through our payment solutions.

One of the requirements of the Money Laundering Regulations is to ask customers if they are a PEP themselves, or if they are a close family member or close relative of a PEP.

Who is PEP?

You are a PEP if you hold, or have held, a high-ranking public office or position in Norway or abroad.

The following specific national positions and positions entail status as PEP in line with the listing in the Money Laundering Act § 2 letter f:

Head of state, head of government, minister or assistant minister:

  • The King
  • Prime minister
  • Minister in government (Council of State)
  • Assistant Minister = State Secretary

Member of the National Assembly:

  • Representatives in the Norwegian Parliament
  • Permanent or permanent deputies

Member of the governing body of a political party:

  • Main board or equivalent high-ranking body in accordance with the party's articles of association, in political parties that are represented in the Norwegian Parliament

Member of a higher court that makes a decision that cannot or only exceptionally be appealed:

  • Judges in the Supreme Court, temporary and permanent positions
  • Judges in the Court of Appeal
  • Only employees of the court apparatus - not lay judges/co-judges
  • Temporary and permanent positions

Norwegian judges at international courts, e.g.:

  • The European Court of Human Rights (ECHR)
  • The EFTA Court
  • United Nations Court of Justice (ICJ)

Member of the board of the National Audit Office, court of audit or central bank:

  • Members and deputies of the Board of Auditors in the National Audit Office
  • The board of Norges Bank

Ambassador, chargé d'affaires or military officer of higher rank:

  • Norwegian ambassador / chargé d'affaires at the Norwegian embassy (Consul not covered)
  • Military officer of higher rank
  • The Chief of Defense

Senior leaders in the various defense branches: general, lieutenant general and major general (corresponding to admiral, vice admiral and rear admiral in the navy)

Member of administrative, leading or controlling body of "state enterprise"*:

  • The board and managing director of state-owned enterprises.

*"State enterprises" are state companies that carry out public tasks that are part of the public administration. The decisive factor is whether it concerns state authorities, even if these are represented by an enterprise. State-owned companies that do not perform tasks that include public administration fall outside the definition. Subsidiaries of such companies are not included, nor are self-owned institutions (typically foundations) which are wholly or partly financed by public funds. Local enterprises, such as county and municipal enterprises, are not covered.

Director, board member or other person in top management in an international organisation:

  • Persons appointed, appointed or employed by a government, ministry or minister in an international organization that has been established by the conclusion of a formal international political agreement. For example, such positions in EFTA, NATO and the UN. Non-profit organizations are not covered.