Sanctions and PEP Screening for Challenger Banks and Fintechs

The landscape for banking services has changed beyond recognition in the last few years. The award of the first retail banking license for 100 years to Metro Bank in 2010, opened the flood gates, and since then ever more challenger banks and fintechs are disrupting the market. Many challenger banks are targeting specific customer segments […]

Commonality of Personal Names in Sanctions Screening

commonality of personal names

Screening for sanctions names is tricky. As well as people trying to hide their identity by using an alias, names can be presented for screening in all sorts of different ways. Matching a name on a sanctions list requires a screening system with complex algorithms that will identify the match without also creating a significant […]

Who is a Politically Exposed Person PEP?

A “politically exposed person” is an individual that holds a prominent position or function which would give them power and influence over others. Due to their role, they may be more susceptible to bribery, corruption or other money laundering offences, as a result of this they are of high risk to financial institutions. Generally, PEP’s […]

Is your Sanctions & PEP Screening Efficient?

What is the best way to screen your customer and transaction data for sanctioned entities and politically exposed persons (PEPs?) This is not an easy question to answer. Many people would say there is no right answer as it is dependent on many criteria. Some criteria to consider, the type of organisation you are, your […]

Politically Exposed Persons – Country Risk

When determining if you want to enter into a relationship with a non-domestic ‘Politically Exposed Person’ (PEP,) geography will be a key contributing factor along with of course what type of PEP they are, and the type of business relationship they require, etc. The challenge can be in understanding and defining the relative country risk […]

Politically Exposed Persons (PEPs) Classification

In our article, The Complexities of Investigating Compliance Alerts we examined how a Banking corporation’s AML department utilises investigation techniques to resolve compliance alerts whilst achieving quality, meeting productivity, and regulatory standards, whilst touching on the subject of Politically exposed persons (PEPs.) This article will take a more in-depth look at PEPs and how an […]