PEPs have to be seen as high risk by financial institutions due to their potential to get involved in bribery and corruption. Financial institutions are not forbidden to open accounts for PEPs but AML regulators have required financial institutions to detect PEPs due to high risks. You can easily detect PEPs with Sanction Scanner solutions.
Sanction Scanner database contains PEP data from over 220+ countries. With our PEP Screening software, you can perform PEP Screening in seconds during customer onboarding and customer monitoring processes. You can easily detect PEPs with web, API, or batch search options.
FATF has classified PEPs according to their positions and risks. Therefore, companies must perform PEP scans based on classified PEP data. Sanction Scanner has classified the PEP data according to the FATF definition. Also all the data of Sanction Scanner is real time.
The case study with BPN Payment & E-Money Services mention how BPN made the customer onboarding process more efficient and flexible with Sanction Scanner's Client Screening solution. To access the full Case Study, please fill out the form below.