For Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance, Politically Exposed Persons (PEPs) emerge as pivotal threads that demand careful handling. These individuals wield substantial influence, and without the right approach, they can introduce significant risks to the financial…
PEP Data and Screening Solutions
Sanctions and PEP Screening: An Important Step in the KYC Process
In today’s increasingly interconnected global landscape, financial institutions face a constant challenge to prevent money laundering, terrorist financing, and other illicit activities. Know Your Customer (KYC) procedures have become indispensable to the financial industry to mitigate these risks. Among the…
A Comprehensive Guide to Sanction, PEP, and Adverse Media Screening in Customer Onboarding Process
After increasing the role of cyber threats, the globalized business landscape of financial institutions and businesses must prioritize risk management to protect themselves against money laundering and terrorist financing. If not done timely, it can cause reputational damage, eventually affecting…
How to Reduce False Positives in Sanction Screening?
Sanction screening is a critical process for any organization that works with clients or customers. It is intended to help identify potential financial crime risk, and allows businesses to remain compliant with government regulations and other laws. But what happens…
Why PEP Screening is Important for Business?
Politically Exposed People (PEPs) are classified as high-risk customers with greater opportunities than normal citizens to gain assets through illegal methods such as accepting money laundering and bribes. PEPs need to be identified and screened by banks due to their potential…
Solving The False Positives Paradox in Sanctions Screening
In sanctions screening, financial institutions constantly face a false positives conundrum: They can’t live with them, but they can’t live without them, either.
The KYC2020 Guide to PEP Screening: PEP Data and Screening Solutions
The KYC2020 Guide to PEP Screening: What features and technologies should you look for in today’s PEP data and screening solutions?