What are PEPs and HIOs?

What is a PEP?

PEP stands for Politically Exposed Person. These individuals are typically high-ranking government officials, their family members, or close associates who hold prominent public positions. PEPs are considered at a higher risk for involvement in corruption or illicit activities due to their influential roles and access to significant resources.

What is a HIO?

HIO stands for Head of International Organization. These are individuals who hold leadership positions in international bodies such as the United Nations, World Bank, or International Monetary Fund. HIOs play crucial roles in shaping global policies and initiatives, often representing the interests of multiple nations.

Why is PEP and HIO status important?

Identifying PEPs and HIOs is crucial for:

1. Compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations
2. Risk management
3. Protecting the integrity of financial systems

What does this mean for you?

If you are a PEP, HIO, or closely related to one, you should:

1. Accurately declare your status when creating your Argo profile
2. Expect additional scrutiny during the account opening process
3. Be prepared to provide more detailed information about your source of funds and wealth

Note: Being a PEP or HIO does not automatically disqualify you from using our services. It simply means we need to conduct enhanced due diligence to comply with regulatory requirements and manage potential risks.

‍