People in exposed public positions (e.g., politicians, judges, local government officials and their families) are so-called PEPs (Politically Exposed Persons). Due to their functions and the decisions they make, they are exposed to risks, such as manipulation or attempts to pay bribes. Therefore, regulatory rules dictate that every financial institution must make sure whether its clients are PEPs or not.
If you have received such a question from us, and you are not a PEP, or do not have a PEP in your closest family, it is most likely that your name is very similar to someone who holds such a position and it is our duty to check this.
Politically Exposed Persons and their families can apply for a ZEN account but must meet additional requirements.