PEPs

Politically exposed persons (PEPs)

What is a PEP?

A Politically Exposed Person (PEP) is someone who is more susceptible to being involved in bribery and corruption due to their public position or function. These individuals may have been entrusted with a high-position by a community institution, an international … Read More

Are all Politically Exposed Persons (PEPs) high-risk?

Are all Politically Exposed Persons (PEPs) high-risk?

In the regulation of financial services, a politically exposed person (commonly known as a PEP) is one who has been appointed to a prominent public function. These individuals may have been entrusted with a high-position by a community institution, an international body or state, within the last 12 months.  … Read More

What Are the 7 Biggest Mistakes Firms Are Making When it Comes to PEPs & Sanctions?

What Are the 7 Biggest Mistakes Firms Are Making When it Comes to PEPs & Sanctions?

There is still a great deal of confusion surrounding the client due diligence process.One area that causes the greatest confusion relates to the 4MLD approach to Politically Exposed Persons (PEPs) and Sanctions checks on individuals and entities. The following represent 7 main misconceptions relating to PEPS and Sanctions Compliance. … Read More

Politically Exposed Person (PEP)

Politically Exposed Person (PEP)

NorthRow has a ‘PEP Tiering Guidance’ system that can serve as a framework for its to follow due diligence investigations. In accordance with a risk-based approach, the categories are divided into 4 different priority levels please see below the diagram. … Read More

Why Do Businesses Need to Do KYC AML Checks?

Why Do Businesses Need to Do KYC AML Checks?

To build a strong and robust fraud-prevention system, companies need to incorporate effective anti-money laundering measures into their business processes. To do this, every company needs to know the process of how and when it should do AML and KYC checks. NorthRow works with organisations across multiple sector helping them to automated AML, KYC and IDV checks to streamline client onboarding, while helping to ensure compliance. … Read More

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