WCC PEP Screening

World Compliance PEP Screening, PEP screening is an important aspect of Anti-Money Laundering and Know Your Customer (KYC) regulation. Our AI powered PEP screening software, collects and configures PEP data from all over the world databases. Thus, businesses can access global PEP data and query their customers without any hassle.

So be vigilant and compliant, World Compliance Check PEP screening safeguards your firms interests and ensures vigilance on a real-time basis.

Financial Action Task Force (FATF) defines a PEP as “an individual who is or has been entrusted with a prominent public function.” Although the term varies by jurisdiction, along with screening requirements imposed by local financial authorities, most financial authorities separate PEPs into three categories:

• Foreign: Individuals who are elected to political positions or who are appointed to prominent public roles or functions in a foreign country should be classified as foreign PEPs for AML/CFT purposes. Foreign PEPs may be heads of state, cabinet members, government officials, military officers or members of the judiciary. They may also be senior executives of state-owned corporations or important members of political parties.
• Domestic: Individuals who are elected to political positions or appointed to prominent public roles within their country of residence are classified as domestic PEPs. Like foreign PEPs, the domestic category includes heads of state and other foreign government officials, members of political parties, members of the military, members of the judiciary and senior executives.
• International: Senior management employees (or individuals of an equivalent level) who are entrusted with prominent functions by international organizations may be classified as international PEPs. Examples of international PEPs include company directors and board members.

Politically Exposed Person screening requirements may also apply to relatives and close associates (RCAs) of PEPs. RCAs are at risk of money laundering as a result of their professional or social proximity to PEP-status individuals.

Compliance Database Listing

Source	Description
OFAC	(SDN) Specially Designated Nationals List
	(OFCL) Consolidated List
BIS	BIS Denied Persons/Unverified List/Entity List
Canada	(OSFI)
Europe	HM Treasury Sanction List
	European Union Sanction List
UN	United Nations 1267 List
Central Bank Black Lists	Blacklists pertaining to individuals and entities for regions pertaining to MiddleEast, Pakistan and North Africa
PEP	Politically Exposed Person