for those like me that we're unfamiliar with this term there are FAFT guidelines for AML for PEPs[1]

[1] https://www.fatf-gafi.org/en/publications/Fatfrecommendation....

It's possible to be marked as PEP, and be unaware of it. Teams which do research to compile PEP lists are expectedly incompetent when dealing with non-English-speaking world. I know a guy who actively participated in an electoral campaign in his home country as a volunteer, in connection with an incident (nothing related to money) his name got splashed in national news for a short period. Aaand five years later in another country where he came to work, banks deny him opening account because somebody added him to PEP lists as a "political party leader" (he never been even a member). There's no way to appeal, and it never expires. Banking compliance is just broken in so many ways, that there are numerous people who suffer for no reason having denied banking services, accounts frozen etc.

PEP is wholly incompetent in any language, I'm still flagged as a PEP because I'm the father of a 60 year old US senator, despite not having any ties to the US nor possessing a time machine.