UK & International PEPs & Sanctions

Politically Exposed Persons (PEPS) are those trusted by society in prominent positions including politicians, senior government officials and senior law enforcement members. This also includes those that deal closely with them and may have an influence on them. This does not mean you cannot deal with PEPS. Your business should constantly monitor them to avoid risks related to money laundering, tax evasion and bribery. PEPs and sanctions checks are important for your business as they allow you to see if they have been sanctioned and/or if a PEP is connected to a company you work with. Being vigilant of who you are dealing with will help your business mitigate financial risk and remain compliant.

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PEPs and Sanction Screening in a Few, Simple Clicks

PEPs and Sanctions checks provided by Red Flag Alert ensure you remain compliant, make your onboarding efficient, perform effective client due diligence and improve your revenue. Checking clients and potential customers quickly and accurately are a vital part of the onboarding process and can help you reduce financial risks too. Assessing client risk in relation to anti-money laundering, corruption, and other illegal operations is needed to understand how your organisation may be exposed to the risks posed by their activity. Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations require a PEP screening. This entails verifying a customer’s identification to see if they are a PEP or not. This is where Red Flag Alert can help.

Red Flag Alert can screen for PEPs and sanctions, so your business can assess a customer’s risk potential. The Red Flag Alert platform allows your business to perform KYC and AML checks within seconds, while our portfolio management tool will ensure you stay alerted to any changes in a customer’s risk status, when they happen.

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International Checks

Red Flag Alert screens international and UK databases to identify actors on PEPs and sanctioned lists.

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Incredible Depth

Our data is updated in real-time from hundreds of sources in the UK and overseas. Our data includes UK electoral roll, international sanctions, international PEPs, international passports, enhanced due diligence, biometric facial matching, international ID cards and more.

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Demonstrate Compliance

Your entire workflow is stored in the cloud, so it’s easy to prove you meet regulations. A secure audit trail means you can build robust and effective AML compliance frameworks.

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Real-Time Alerts

Stay on top of changes of your clients’ compliance risk. Red Flag Alert is updated every day, and monitoring alerts can be sent to your team in real-time while data can integrated with your CRM.

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Improve the Customer Experience

Our AML checks enable your sales team to verify customers in seconds, reducing friction in the onboarding process, reducing drop-off rates and giving a great first impression of your business.

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A Complete Breakdown on Businesses & Individuals

Each business in our database of over 15M+ businesses has an extensive breakdown of key information. This allows you to make informed decisions in real time. One of the most important features is monitoring along with Digital AML. The monitoring feature gives you real-time alerts on any business you choose to add to a portfolio. Digital AML provides a broader level of compliance with the ability to check UBOs and directors for PEPS and Sanctions. The benefits of the RFA platform are limitless in a sense that we are constantly striving to update and advance our technologies.

 

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How It Works

Ideal for SMEs and enterprises alike, our solution utilises Digital AML as well as Manual AML, cross referencing the information submitted with domestic and foreign databases. You will receive an alert once the check is complete along with the results that will help you in making your final decision.

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1. Perform a Check

Submit a digital or manual check on the Red Flag Alert platform

 

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2. Fill in details

Enter contact information of your client of interest

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3. Receive results

Results will be sent back to you in order for you to make your decision

Know Who You're Dealing With

Find out how easy it is to perform due diligence checks and minimise risk with Red Flag Alert.

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Frequently Asked Questions about PEPs & Sanctions

What are examples of sanctions?

There are numerous sanctions that can be enforced by regulation. Here are a few examples: Embargoes on trade, Prohibitions on certain types of trade or on trade with certain business, Asset Freezes and Travel bans on individuals. These are not limited to just these sanctions as they vary per purpose and reasoning.

What are UK sanctions?

UK sanctions are regulations made under the Sanctions Act which apply in the entire United Kingdom as well as Northern Ireland. These prohibitions and requirements in the UK sanctions regulations apply to conduct by UK citizens. This also includes anyone in the UK and its territorial waters, UK nationals outside of the UK, and bodies incorporated under the law of any part of the UK.

What are the 3 types of PEPs?

The three types of PEPS include:

  • Politicians
  • Senior government officials
  • Senior law enforcement members
Why are PEPs high risk?

PEPS are a high risk to businesses as they hold positions of authority and influence. Many of these PEPS hold positions that can be abused or impacted for illegal activity such as bribery, corruption and money laundering.

What is a politically exposed person (PEP)?

Politically Exposed Persons (PEPS) are those trusted in prominent positions of authority and influence including politicians, senior government officials and senior law enforcement members. This also includes those that are closely associated with PEPS. These people may have an influence on them and the decisions they make.

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