Identity PEPs to Manage the Associated Risks
Financial Institutions are required to perform due diligence in transactions involving Politically Exposed Persons (PEPs). While there is not a global standard definition regarding PEPs, the term generally refers to foreign officials and senior foreign political figures.
The first step toward compliance with the Know Your Customer (KYC) and Anti-Money Laundering regulations impacted by PEPs is identifying those individuals during the initial enrollment or transaction. Electronic Verification Systems (EVS) offers the flexibility to make the process of identifying PEPs easy.
Standalone or Integrated
Watch list Screening can be performed independently, optionally including OFAC, EPLS, and LDP screening with PEP . PEP (and other watch list) screening can also be performed as part of a single transaction integrated with other EVS solutions including IdentiFraud Consumer, IdentiFraud International, SSN Lookup, or DL Verification.
Individual or Batch
As with all EVS solutions, PEP screening can be performed individually through either the IdentiFlo Platform or the API as well as in Batch transactions.
Select Your Own Match Threshold
With PEP Screening by EVS you can choose how specific you want returned results to be. The similarity threshold can be set between 50% (similar names) to 100% (exact matches only).