Important for financial institutions and insurance companies: TL PEP regularly checks your complete customer and supplier inventory as a batch comparison and compares it quickly and reliably with PEP lists.
PEP list check according to the Money Laundering Act
The EU Anti-Money Laundering Directive requires special due diligence for business relationships with politically exposed persons (PEP). By definition, PEPs are natural persons, for example, politicians who need to be more strictly vetted for money laundering. For this purpose, these persons must be reliably identified before entering into a business relationship. But how do you identify PEPs when they register at a casino? How can I tell if a lottery player is on a PEP list? Financial service providers such as banks and insurance companies are also challenged: They all have to identify customers who are on PEP lists.
Error-tolerant matching procedures for unambiguous results
There are currently about 650,000 politically exposed persons worldwide. TL PEP is a high-performance software solution that quickly, error-tolerantly and reliably matches your customer data against PEP lists. Identify PEP easily and completely automatically: whether in real time directly during data entry or as a regular check of all customer data in the batch version. TL PEP meets all requirements for effective compliance screening. Unique hits are marked. Possible hits can be displayed to the user for further processing.
TL PEP works with special error-tolerant search methods. Even if the spelling differs, you will get valid results.
Example of an error-tolerant PEP list check:
|result||Dag Knut Baehr||xx.xx.1965||Militär|
PEP list check in real time or as batch match
In the batch version, TL PEP regularly compares your complete address database with the PEP lists. The stand-alone software checks all data and marks the matches.
TL PEP also checks your customer data directly during registration or data entry in real time. A web application and the service component are available for this purpose. Both applications can be flexibly integrated into many systems. The comparison of customer data with the PEP lists takes only a few milliseconds and takes place either interactively or automatically.
Optional reference data: info4c PEP Desk™
- Most comprehensive PEP list with worldwide coverage.
- Approximately 650,000 politically exposed persons (PEPs) from over 240 countries and territories, usually from official sources
- Meets requirements of the Financial Action Task Force (FATF), money laundering regulations, and legislators worldwide
- Info4c PEP Desk™ includes, among others:
- Heads of State/Government
- Government/cabinet members
- Members of Parliament
- Members of the Supreme Courts
- National bank presidents and senior administration members
- Political and religious leaders
- Senior military officers
- Chairmen of state-owned companies
- Regional officials
- Ambassadors/embassy officials
- International organizations
- Relatives and ExPEP
TL PEP can do all that:
Reliable and fast results for financial institutions, banks, casinos, gambling operators and commercial merchants: TL PEP checks addresses in real time during data entry.
More security for collection agencies and other companies: TL PEP checks customer data from external sources before data transfer as batch matching.