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:
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.
|OFAC||(SDN) Specially Designated Nationals List|
|(OFCL) Consolidated List|
|BIS||BIS Denied Persons/Unverified List/Entity List|
|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|