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