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Follow on Google News | Politically Exposed Person (PEP)Tracesmart Corporate adds an additional 200,000 Politically Exposed Person records to it's Sanction screening service.
By: Tracesmart Ltd Mike John Trezise, Managing Director of Tracesmart Ltd comments “Firms need to ensure that they have appropriate risk-based procedures in place to determine whether a customer is a PEP when they arrive in their office next Monday morning. Whilst the larger firms in the financial services sector have been pro-active in recent months by integrating or subscribing to sanction lists and PEP databases, it is highly likely that smaller firms will continue to solely request traditional ID paper documentation as their Know Your Customer (KYC) policy and have no means to screen for sanctions or the politically exposed.” http://www.tracesmartcorporate.co.uk/ Tracesmart Corporate’s multi-source PEP database contains a comprehensive list of very clearly defined individuals in the following main categories; heads of state, cabinet members, members of parliament, highest members of the judiciary, national bank governors and members, political and religious leaders, military officials, senior executives of state of owned companies, ambassadors, former PEP’s and those closely associated to PEP’s such as family members. The PEP screening facility is fully integrated into their KYC system – http://www.smartidplus.co.uk/ # # # Tracesmart Corporate are leading providers of consumer tracing, data cleansing, Know Your Customer and B2C marketing solutions. Website: www.tracesmartcorporate.co.uk End
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