A politically exposed person, or PEP, has a higher risk of becoming involved in fraud and corruption due to their position and influence. Because of the high risk that PEPs may pose, it is of critical importance to implement watchlist screenings as part of your customer or supplier onboarding process.
Bitventure’s software solution allows you to identify PEPs, and calculate the risk that they might present to your business, through a real-time digital risk scoring service.
The easy-to-use application returns comprehensive reports containing the PEP’s verified personal information, a risk score, applicable watchlist types, and a watchlist status summary. Such results empower you to make better-informed decisions when onboarding new customers and suppliers.
Enter the customer’s or supplier’s name and surname.
Submit the details to be traced against global PEP watchlists.
Receive the risk score and status in a matter of seconds.
Avoid onboarding high-risk consumers and fraudsters.
Cut time-consuming screening procedures short with real-time results.
Prevent fraudulent transactions, reduce costs and increase revenue.
Receive accurate and up-to-date PEP results from global watchlists.
Reduce the need for manual paperwork and physical document handling.
PEP Screening is a software solution that is used to screen individuals against PEP watchlists from ‘Sanctions’ to ‘Most Wanted’ lists. These lists are updated daily to remain relevant and accurate. The risk levels of individuals are then determined through the recency and frequency of their names appearing in adverse media. Statuses can also be monitored on an ongoing basis whereby watchlist updates can be received daily. This service can be used through an online portal or can be integrated via API into existing workflows.