PEPs, Sanction Checks & Adverse Media Screening with DueDil

21 September 2017 Ryan BaldeoProduct

Businesses use DueDil to expedite compliant onboarding of new customers for KYC/AML, while ensuring confidence in the regulatory assessment of a counterparty. This extends to conducting checks for PEPs, sanctions & adverse media -- all made simple with the DueDil web platform or the DueDil API.

Conducting these checks with DueDil allows businesses to identify any and all linkages of corporate ownership and associated individuals. As a result, when a check is run against a specific entity, that check can be extended to all of these related parties, returning any flags or sanctions across the entire group. Advanced datasets reveal the ultimate beneficial owner of a business, enable PEP checks and uncover any sanctions levied against a business.

Read on to learn more about these regulatory checks, or find out about the solution for compliance.

Are you keeping up with the anti-money laundering (AML) regulatory demands of your business?

Companies today must adhere to strict regulatory protocol to protect them from financial, legal and reputational damage. Many leverage third party compliance checks to uncover PEPs (Politically Exposed Persons), sanctions, and adverse media associated with a company to ensure their business is better protected against risk. Sufficient KYC (Know Your Customer) due diligence is an essential part of the process.

What is a PEP Check?

PEPs checks investigate if a Politically Exposed Person is connected to a company. These individuals are considered high risk in the compliance landscape and often show connections to associated companies, business partners, and their relatives globally. The definition of a PEP encompasses anyone that serves a prominent public function or has relatives who are politically involved, to individuals who have been convicted of money laundering or terrorist activity.

What are Sanction Checks?

Sanctions checks are specialised searches that include multiple international sanction databases that identify companies and individuals who are banned from certain activities or industries. Sanction lists can involve those related to terrorism, trafficking, AML and a variety of other factors that may be important to understand before doing business with an organisation.

What are Adverse Media Checks?

Adverse Media checks enable businesses to quickly search a vast array of media sources for historical publishings which may pose reputational risk to your organisation. This can include County Court Judgements, Gazette notices or other material captured in the media related to any entity.

PEPs, Sanctions and Adverse Media checks require advanced compliance technology and are all part of the DueDil platform. Get in touch to see how you can keep your regulatory processes in check.

Why are adverse media checks important?

Adverse media checks are essential for uncovering a client’s involvement with money laundering, fraud, organised crime and terrorism. Conducting negative news screening ensures that firms do not become unwittingly involved in criminal financial activity. If involved in any of these activities, firms will face legal consequences and a stain on their reputation.

What does adverse media screening involve?

Adverse media screening involves:

  • Identifying which clients should be screened, and deciding how often adverse media checks should be carried out on them.
  • Utilising a comprehensive company information tool, such as DueDil to screen clients.
  • Reviewing and evaluating the data and identifying matches.
  • Deciding whether to continue working with a client and updating KYC systems.

How DueDil can help

  • Using DueDil, companies can access a vast array of recent and historical media sources
  • Businesses can use DueDil to find all linkages of corporate ownership and associated individuals, including PEPs and UBOs.
  • Firms can use DueDil’s sanction lists to identify individuals related to terrorism, trafficking and AML