Remaining safeguarded from fraudulent activities requires awareness of all potential threats, especially from an onboarding perspective.
, or Politically Exposed Person, is a prominent political figure or an individual with an influential public role. Onboarding these individuals may be seen as an asset to your business; however, their introduction to your system of clients is accompanied by a series of risks. The influence that these PEPs hold makes them susceptible to engaging in fraudulent or corrupt activities and your business would not want to be associated with individuals such as these. Due to these risks, it is essential for businesses to thoroughly vet a PEP before onboarding them.
Bitventure’s real-time PEP screening service
cross-checks these individuals against international watchlists, offering an extensive report including the individual’s risk score, verified personal information, and a watchlist summary.