GoProposal AML uses a risk-averse approach to protect your business from potential risks. During ID checks, the system could flag your client as a Politically Exposed Person (PEP). This doesn’t mean wrongdoing but indicates the need for further review.
Why do PEP flags appear?
PEP screening identifies individuals with prominent government roles or political influence, as they present a higher risk of money laundering or corruption.
Our system is expansive to ensure accuracy, which can result in false positives, especially for common names
Multiple PEP flags on a report are normal and part of a thorough screening process
How to review PEP flags
PEP flags raise awareness but don’t confirm the risk. Review the report carefully:
Location comparison: Check if the flagged person’s location differs from your client’s ID
Description analysis: Compare attributes and affiliations. Significant differences suggest a false positive
Additional information: Review birthdates, occupation history, and other details to confirm identity
What if my client is a PEP?
Being a PEP doesn’t imply wrongdoing. It means your client holds a prominent position or influence. Take these steps:
Review policies: Check your company’s procedures for handling PEP clients
Consult experts: Seek legal or compliance advice to meet regulatory requirements
Mitigate risk: Document your approach in the client’s Risk Assessment, including enhanced due diligence measures
Proactive steps allow you to maintain compliance and continue working confidently with the client.
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