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 […]

Efficient Screening for Politically Exposed Persons

Screening for Politically Exposed Persons (PEPs) can be even more complex than screening for sanctioned names. At least with sanctions, there are formal published lists of names. With PEPs, it is a case of mining the internet for dozens of different sources or relying on list providers to keep their own lists up to date. As a rule, sanctioned […]