A politically exposed person (PEP) is defined by the Financial Action Task Force (FATF) as “an individual who is or has been entrusted with a prominent public function. Due to their position and influence, it is recognized that many PEPs are in positions that potentially can be abused to commit money laundering offenses and related predicate offenses, including corruption and bribery, as well as conducting activity related to terrorist financing. (...)”. Also, PEPs are “individuals who are, or have been, entrusted with prominent public functions and their family members and close associates, and includes both domestic and foreign PEPs”.
So we are legally obliged to establish whether you, as a customer, might have any political connection. Nothing to worry though, as “these requirements are preventive (not criminal) in nature, and should not be interpreted as stigmatizing PEPs as such being involved in criminal activity”.