PEP Monitor

One of the most important issues is the need to better know your client (KYC) and particularly their Politically Exposed Person (PEP) status. A PEP is someone who has been elected and holds a position of power, such as, but not limited to, a Member of Parliament.

Once you know that someone is a PEP there is a need to carry out a heightened level of due diligence, not just on them but mainly on their source of funds. This is to essentially ensure that any funds being deposited or used to pay for a product being sold by you have come from a legitimate source and are not the proceeds of, for example, bribery or corruption. Handling such funds for a client can put a firm at risk of being party to money laundering.

SanctionsSearch.com as part of our ValidID solution, has always provided a PEP search; however, our latest update is designed to offer users the updated technology currently being used within the sanctions platform. This means that if you screen a client today and they become a PEP tomorrow, next week, or next month, your account will alert you of that potential exposure so you can ensure that all your due diligence is appropriate for the level of risk that client may pose to your firm.

PEP screening is nothing like sanctions screening, due mainly to the fact that PEP lists are not free. 

However, PEP lists are compiled by large research teams all over the world, and this level of resources has a significant cost.

Our PEP list is global; therefore, users from outside the United Kingdom will also benefit from this great addition to our system.

Our retail cost for PEP screening is £2.00 plus VAT per individual per year. 

That being said, if you would like to use this product please speak to us direct, as existing users will get preferential pricing and we are also offering very competitive discounts for volume screening.

To contact us please call 0843 713 0 777 and we will be happy to help.