A politically exposed person (PEP) is an individual who is or has been entrusted with a prominent public function. PEPs can be individuals with very high levels of integrity, who are merely classified as PEPs due to the office they hold. PEPs are however individuals who are in positions that can be potentially abused for the purpose of committing corruption, bribery, money laundering, and terrorist financing. As a result, it is important that these individuals are recognized, and their transactions subjected to enhanced scrutiny.
A politically exposed person (PEP) is defined by the Financial Action Task Force (FATF) as an individual who is or has been entrusted with a prominent public function. This definition is provided under the FATF Recommendations 12 and 22.
Due to their position and influence, it is recognised that many PEPs are in positions that potentially can be abused for the purpose of committing money laundering (ML) offences and related offences, including corruption and bribery, as well as conducting activity related to terrorist financing (TF).
Importantly, recognizing PEPs and employing enhanced scrutiny is solely a preventive mechanism and is not intended to construe PEPs as being involved in any wrongdoing. PEPs can be individuals with very high levels of integrity, who are merely classified as PEPs due to the entrusted public function they perform.
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This category includes information on former and current Presidents and Prime Ministers of Sri Lanka.
Members of Parliament, Chief Ministers of Provincial Councils, Heads of Local Government Authorities (e.g. Municipal Council) are identified as Senior Politicians of Sri Lanka.
Secretaries to the President, Prime Minister and other Ministries, Governors & Chief Secretaries of the Provincial Councils and Municipal Commissioners of the Municipal Councils are identified as theSenior Government Officials of Sri Lanka.
Honorable Justices of the Supreme Court and Court of Appeal are identified as Senior Judicial Officers of Sri Lanka.
Chief of Defense staff and the Commanders of tri-forces are identified as the Senior Military Officials of Sri Lanka.
Chairman, Members of the Board of Directors and the Members of the Senior Management team of the State-Owned Enterprises of Sri Lanka are identified as the Senior Executives.
Individuals who are related to above mentioned people either as immediate family or through marriage.
The Online Register of Politically Exposed Persons (PEPs) contains profiles of Sri Lankan individuals who fall within the definition of Politically Exposed Person provided by the Financial Action Task Force (FATF) in their FATF Guidance.
The Register contains information obtained via Right to Information requests, web-based research, and discussions with stakeholders.
As recognized by the FATF, PEPs are individuals who are in positions that can be potentially abused for the purpose of committing corruption, bribery, money laundering, and terrorist financing. It is noted that as a result, it is important that these individuals are recognized, and their transactions subjected to enhanced scrutiny.
Currently Sri Lanka does not have a publicly available database that allows for the recognition of PEPs. Thus, in the public sphere there is a lack of understanding of the importance of identifying and scrutinizing their transactions for money laundering and terrorist financing risks, thereby preventing corruption.
This database seeks to bridge that gap. It is intended to be used forfree by the general public, journalists, activists, analysts and organizations for their information and analysis.
If you think we’ve missed out on a PEP and would like to help us add the information, fill out the form and provide a source for the data. We will get in touch with you as soon as we can.