Business Partner screenings, which include PEP and Sanctions Lists screenings, involve personal data and hence GDPR data privacy regulations must be taken into consideration.
Learn in our short video what the implications are and how it affects your screening process.
PEP screening is an important aspect of Anti-Money Laundering and Know Your Customer (KYC) regulation. It involves validating a customer’s identity to determine if they are a PEP – a politically exposed person. While companies are of course not not prohibited from working with somebody on a PEP list, there are additional due diligence measures that are required. See what are the Best Practices in our short video below.
The EU Directives are legislative acts that establish common goals for all EU member states. Each country has the flexibility to determine its own framework to meet these directives, so long as they are met. Although these are legally non-binding, failure to comply can lead to fines and other punitive actions. Get an overview of what you need to know about the EU’s 5th Anti-Money Laundering Directive in our short video.
Sanctions lists and PEP (Politically Exposed Persons) lists screenings are required as part of Anti-Money Laundering (AML), Counter Terrorist Financing (CTF) and Know Your Customer (KYC) compliance.
Get a quick overview about the risk for non-compliance with AML regulations in our video.