PEP and Sanction Checks
Overview
FA's PEP and Sanction Checks ensure that you identify politically exposed persons (PEP), as well as companies and individuals included in global sanctions lists. You can also verify the results of any background checks for compliance purposes at any time.
Functionality
Search PEP and Sanctions lists and flag contacts
Search selected PEP and Sanctions list databases - search selected PEP and/or Sanctions list databases to find out if a person or a company is listed as PEP (Politically Exposed Person) or in Sanctions lists. For example, you can verify the status of a new client when adding them to the system.
Flag contacts who may be politically influential and/or on a sanctions list - you can allow your compliance to verify the results of automatic flagging, and possibly override the flagging if the information is known to be inaccurate.
Automatically flag contacts who are listed in selected PEP and Sanctions list databases - you can schedule automatic checks on all of your contacts, and flag them accordingly if matches are found from selected PEP and/or Sanctions lists. For example, you can use these flags to alert compliance or prevent creating new transactions to flagged contacts.
Supported service providers
To use the PEP and sanction checks module, you need to have access to one or more of the supported service providers listed below.
PEP/Sanctions database | Description |
|---|---|
Trapets (InstantWatch KYC) | Trapets lets you check your clients against PEP and sanctions lists. |