The Financial Action Task Force (FATF) has published guidance on politically exposed persons (PEPs), who are individuals that carry out, or have been entrusted with, prominent functions. Because many PEPs hold positions that can be
abused for the purpose of laundering illicit funds or other predicate offences such as corruption and bribery, the guidance sets out the application of additional anti-money laundering/counter terrorism financing measures to business
relationships with PEPs. The annex to the guidance contains a collection of red flags/indicators for suspicion that can be used to assist in the detection of misuse of the financial systems by PEPs during a customer relationship.

Copies of the guidance and webpage are available.

http://www.fatf-gafi.org/media/fatf/documents/recommendations/Guidance-PEP-Rec12-22.pdf
http://www.fatf-gafi.org/documents/documents/peps-r12-r22.html