In this article, we take a look at some of the key strategies and tactics to ensure the fine balance between the need for in-depth scrutiny of PEPs for AML compliance and the delivery of an exceptional customer experience. … Read More
PEPs
Conducting PEP checks: tools and techniques
Compliance professionals play a crucial role in ensuring that their organisations comply with PEP and wider AML regulations. However, identifying and verifying PEPs can be a complex and time-consuming process, particularly for businesses that operate across multiple jurisdictions. … Read More
Working with Politically Exposed Persons (PEPs)
A Politically Exposed Person (PEP) is an individual who may have been entrusted with a high-position by a community institution, an international body or state, within the last 12 months. … Read More
What is a PEP & should you work with them?
Politically Exposed Persons (PEPs) pose heightened financial crime risks due to their authority and public roles. Effective due diligence, including PEP screening, is critical for mitigating bribery, corruption, and money laundering threats. … Read More
Why are PEPs high-risk, or are they not all that bad?
In the regulation of financial services, a politically exposed person (commonly known as a PEP) is one who has been appointed to a prominent public function. These individuals may have been entrusted with a high-position by a community institution, an international body or state, within the last 12 months. … Read More
What Are the 7 Biggest Mistakes Firms Are Making When it Comes to PEPs & Sanctions?
There is still a great deal of confusion surrounding the client due diligence process.One area that causes the greatest confusion relates to the 4MLD approach to Politically Exposed Persons (PEPs) and Sanctions checks on individuals and entities. The following represent 7 main misconceptions relating to PEPS and Sanctions Compliance. … Read More
Politically Exposed Person (PEP) | Low vs. high-risk
PEPs (Politically Exposed Persons) pose higher financial crime risks due to their positions. Effective PEP screening, enhanced due diligence, and compliance tools are essential to mitigate risks while enabling informed business decisions. … Read More
Why do businesses need to do KYC AML checks?
The UK enforces strict AML and KYC regulations, requiring businesses to verify customer identities and monitor transactions. Compliance ensures protection against financial crimes and avoids penalties, with automation improving efficiency. … Read More