PEP Compliance
The Politically Exposed Persons (PEP) watch list includes over 600,000 names of former and current government officials from around the world. The list also includes photos, personal information, and details regarding the immediate families of these political figures. When doing business with PEPs, organizations must ensure that their interactions are legitimate and that they do not involve any illicit activities.
Who Does This Affect?
At the very least, organizations that maintain business relationships with members of the political community should monitor the PEP watch list. Doing so ensures their due diligence in making efforts to know their customers. To avoid heavy penalties from the federal government, businesses should compare their client data with the individuals found on the PEP list and look for any direct matches.
How Does EVS Help?
As part of our IdentiFlo solution, EVS offers a specific product that will compare customer data to the PEP list. With this system, our clients can crosscheck their customer information to the list, receive notice of any direct hits, and even use the audit trail generated by this product to manage and confirm their organizations' due diligence in preventing political fraud and corruption.