PEP, Sanction & Adverse-Media-Screenings
Automated checks for maximum security: Identify risks from PEPs, sanctions and negative media reports before they jeopardise your business.
Why PEP, Sanctions and Media Audits are indispensable for your compliance
Financial institutions, law firms and regulated companies have a great responsibility: they must ensure that their client relationships are not used for money laundering, terrorist financing or circumventing international sanctions. Missing or incomplete checks can quickly lead to high penalties, reputational damage and liability risks.
Especially in a globally networked environment, it is impossible to keep an eye on all risks manually. This is where automated screenings come into play.
What is a PEP?
PEP stands for Politically exposed person.
This includes not only top politicians or members of government, but also people with high-ranking public offices, their family members and close confidants.
Why relevant?
- PEPs are more susceptible to corruption and bribery due to their position.
- Transactions with PEPs always mean an increased risk of money laundering.
- Legislators therefore stipulate stricter checks, e.g. in the German Money Laundering Act (GwG)
What are Sanctions Lists?
Sanctions lists are drawn up by organisations such as the EU, the United Nations or the US Department of the Treasury (OFAC) led.
These lists contain persons or companies with whom Business prohibited or severely restricted are.
An offence, even unintentional, can have serious consequences: High fines, criminal prosecution, but also the loss of bank accounts or business partners.
What is Adverse-Media-Screening?
"Adverse media" means the search for negative press reports and news sources about persons or companies.
- Reports of corruption, fraud, money laundering or terrorism
- Research in international media sources, watchlists and databases
- Early warning system before a customer officially appears on a sanctions list
The challenges for companies
PEP, sanctions and media checks are among the biggest compliance challenges. What sounds like a simple name check quickly becomes highly complex due to countless lists, international sources, language variants and documentation requirements. The result: a lot of time, rising costs and still a considerable residual risk.
The central challenges:
- Unmanageable amount of data: Hundreds of lists worldwide, millions of entries, constantly updated.
- Complexity: Different spellings, translations and name variants make it difficult to find clear matches.
- Liability risks: Even an overlooked entry can result in fines, criminal prosecution and reputational damage.
- Time required: Manual checks are not scalable and tie up valuable resources.
Instead of tedious list checking: intelligent automation that doesn't overlook anything.
The solution with Regpit
The Regpit platform automates these complex checks, quickly, securely and fully MLA-compliant.
This is how it works:
- Automated screening against all relevant PEP and sanctions lists, updated daily and worldwide
- Adverse media check in global news sources, intelligently filtered according to risk relevance
- Fuzzy matching technology also recognises different spellings and translations
- Audit-proof documentation of every audit for internal and external controls
- Real-time alerts: you'll know immediately if the status of a customer changes
Talk to our compliance experts
Our experts will personally guide you through the Regpit platform, show you the functions in use and advise you individually on the appropriate modules and possible applications.
free of charge & non-binding
Discover our other Solutions
Choose flexibly: individual modules or customised combinations.
KYC/KYB Solution
The KYC- and KYB software from Regpit enables fully digital onboarding: Including automated PEP and sanctions list checks, identification of beneficial owners and provision of up-to-date register extracts.
All processes are MLA-compliant, intuitive to use and, best of all, the end result is an audit-proof report that protects you during audits.
Ident Solution
With the Ident Solution from Regpit, you can identify people easily and securely: via Video-Ident, eID, account ID, on-site verification or Signature.
All procedures are MLA-compliant, ready for immediate use and can be integrated into your processes without any IT effort.
Monitoring Solution
Regpit's monitoring solution automatically monitors individuals and companies for Sanctions lists, PEP data and Adverse Media.
Changes are recognised immediately, documented and displayed as an alert so that you remain compliant and able to act at all times.
E-Learning Solution
With the E-Learning Solution from Regpit, you can train employees efficiently and in compliance with the law on all topics relating to money laundering prevention.
All content concludes with certified knowledge tests and leads to audit-proof certificates of participation.
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Read our articles to find out more about your legal obligations and how Regpit can help you manage them.
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