PEPs in Ukraine? It’s complicated

Published by The FCPA Blog

Politically Exposed Persons (PEPs)

One of the main talking points in Ukraine in October 2023 was the new law on politically exposed persons, which was introduced in light of the seven reforms required by the country to support its EU candidate status. While civil society was celebrating victory and a step forward to improved compliance with the FATF standards, politicians claimed the new law would punish them with this “politically exposed” status, with all that comes with it, for the rest of their lives. So, what’s the reality?