Article by Paul Anderson-Riley - 10th September 2021

What's A Politically Exposed Person (PEP) & Why Is It On My Report?

PEP stands for Politically Exposed Person, which typically relates to an individual who holds a prominent public position or function. Through their public position, there is risk that they may be vulnerable to financial crime, such as bribery, money laundering, and general abuse of public office for personal gain.

Politically Exposed Persons information is strictly separate to Credit Reports held at the Credit Reference Agencies but, during a credit application, lenders will often check a separate PEP database to properly understand any potential risk involved with their prospective customer, as required by the Financial Conduct Authority (FCA).

Your Multi Agency Credit Report collates, not just your complete Credit Report information from the Credit Reference Agencies, but also supplementary data that might be checked when you make an application, including PEP records, Financial Sanctions, and the Death Register. This helps you know exactly what other information – in addition to your Credit Report – might be checked when you submit an application for credit.

It’s important to note that just because your name has been matched to a Politically Exposed Persons register, it does not necessarily mean you are politically exposed. Instead, it means that someone who shares your name is a PEP and, because of this, you might be subject to an extra identity check whenever you apply for credit.

If you aren’t a PEP but you share a name with someone who is politically exposed, you have no reason to worry. Sharing a name with a PEP does not damage your Credit Score or reduce your likelihood of being accepted for credit. Once a lender has ascertained that you are not politically exposed, your application will continue as normal.

If you are legitimately a PEP, lending institutions have legal obligations to conduct thorough checks to counter possible corruption stemming from abuse of public office, such as bribery and money laundering. This heightened due diligence is a responsibility overseen by the FCA. Organisations are permitted to do business with PEPs but are only expected to do so if they can manage the associated risk effectively.

What is a PEP?

A PEP can relate to a person with an important, public profile or anyone closely associated with them, including colleagues or family members.

Those identified as a PEP can include:

  • MPs
  • Heads of State
  • Ministers/assistant ministers
  • Ambassadors or Chargés d'affaires
  • High-ranking military officers
  • High-up members of state-owned business entities
  • High-level judicial bodies
  • Central bank board members
  • Members of courts of auditors

Can a PEP affect my credit applications?

If you’re not a PEP but your name has been matched to a Politically Exposed Persons database, you will likely not notice any difference in your credit applications. The lender may undergo an extra identity check to rule you out as being politically exposed. This can be done by checking your addresses, Electoral Roll information, occupation, date of birth, and more.

You won’t be expected to pay more for credit if your name has been matched to a Politically Exposed Persons register and your creditworthiness will not be harmed in any way. At most, the application may take slightly longer – if even that.

If you genuinely are a Politically Exposed Person, you may be subject to more in-depth checks when you apply for credit.

This is because when a financial institution is dealing with someone who has this status, they must take additional care as the person often carries an increased risk as a customer. Due diligence is required as a result of a heightened threat of fraud, bribery and corruption so additional checks are carried out which can include anti-money laundering checks, counter-terrorist checks or identification checks.

Can I have a PEP removed?

A PEP match cannot be removed from your name. This is because a PEP record is not directly attributable to you as an individual and it is a correct reflection of your name (not you as an individual) on a PEP list.

PEP lists are shared by domestic and foreign governments around the world, highlighting and recording individuals those states deem politically exposed. It’s not possible to dispute a foreign nation’s resolution that another individual (who happens to share your name) is politically exposed.

Similarly, you may find you have multiple PEP entries, especially if you have a relatively common name. This is of course not a suggestion you are multiple people, just that your name has been matched to multiple different people who are considered PEPs.

To reiterate, if you are not politically exposed but your name has been matched to a PEP list, your Credit Score, ability to obtain credit, and cost of credit will not be adversely impacted so there is no reason to worry.

How to check if your name is matched to a PEP

You can check to see if your name is on a PEP register by viewing your Multi Agency Credit Report with checkmyfile. Our Multi Agency Credit Report is the most detailed Credit Report in the UK and the only one to offer your complete data from all four Credit Reference Agencies – all on one easy to use platform.

You can trial checkmyfile free for 30 days, after which it costs just £14.99 per month. You can easily cancel online at any time during or after the free trial, or by freephone or email. Should you need any guidance with your Credit Report, our professionally qualified team of Credit Analysts is accessible through your account.

Updated on 10 September 2021 by Sam Griffin

The UK's First Provider Of Online Credit Reports

Launched 24 Years, 35 Million Credit Scores & 8 Million Credit Reports Ago

The UK's First Provider Of Online Credit Reports

Article by Sam Griffin

4th November 2021

Closing A Credit Account — Why Did My Credit Score Drop?

It’s inevitable that you’ll close a credit account at some point — perhaps after finally clearing your mortgage or if you just want to change mobile phone provider. Because of this, we get loads of questions about closing accounts, and what that means for Credit Scores.

Read More

Article by Paul Anderson-Riley

18th August 2021

How To Download And Print Your Credit Report

There are several different reasons you might need to print or share a copy of your Credit Report, such as assisting a mortgage advisor during an application, showing a specific entry to a lender, or even just to keep a physical copy for your personal records.

Read More


We use cookies to optimise your online browsing experience, improve our services and remember your preferences. Cookies are also used for ads personalisation. To consent to our use of cookies, please click 'Accept'.

Alternatively, you can manage cookie settings and find out more by visiting our Privacy Policy.