One of the most common questions among our users is what it means to be a Politically Exposed Person (PEP) and how this status affects the use of our services. As part of our commitment to regulatory compliance and our goal of maintaining a safe environment for all our users, it is important that you understand what being a PEP implies and how it may affect your relationship with the platform.
In this article, we explain everything you need to know to process operations with Airtm correctly and transparently.
What does it mean to be a Politically Exposed Person (PEP) in Argentina?
PEP stands for Politically Exposed Person. This status is significant in the use of financial services like those offered by Airtm, as it relates to individuals who hold or have held high-level positions in government, international organizations, or union groups. The risk associated with these positions is high due to the access such individuals have to resources and power, which could potentially be used for illegal activities such as money laundering or terrorist financing.
Who is considered a PEP in Argentina?
In Argentina, the following individuals are considered PEPs:
- Presidents, Vice Presidents, and Ministers.
- Members of Congress (Deputies and Senators).
- Supreme Court judges and other high-ranking magistrates.
- Officials of state-owned companies.
- High-ranking commanders and officers of the Armed Forces.
- Officials of international organizations (UN, IMF, etc.).
- Leaders of political parties or electoral alliances.
- Leaders of union and business organizations.
- Close family members of a PEP: spouse or domestic partner, parents, children, siblings, in-laws, sons/daughters-in-law, and brothers/sisters-in-law.
Are all public employees considered PEPs?
No. Only those who hold high-level positions or have significant influence over public decision-making are classified as PEPs. For example, an administrative employee with no decision-making authority would not be considered a PEP.
Why is it important to know if I am a PEP?
Individuals in relevant public positions have access to resources and make decisions that affect many other people, making them more susceptible to being used for illegal activities such as money laundering. For this reason, financial platforms must pay special attention to PEPs in order to comply with regulations and ensure a safe environment.
How do I know if I am a PEP?
When you register with Airtm or update your information, we will ask you to inform us whether you are or have been a Politically Exposed Person. This may mean we request additional information to ensure everything is in order.
What if I am no longer a government official?
If you held an important position but no longer do, you will still be considered a PEP for a period — generally up to two years after leaving your post. During this time, we will continue to monitor your activities more rigorously.
What happens if my PEP status changes?
If your situation changes and you begin or cease to hold a relevant public position, it is important that you inform us so we can update your profile. We will ask you to declare this at the following moments:
- During the onboarding process (initial registration).
- During the KYC refresh process (updating your information).
- During advanced verification.
If you have any questions about whether you are considered a PEP or whether your status has changed, do not hesitate to contact us. Transparency is key to maintaining a safe and reliable system for everyone!