PEP list screening helps mitigate compliance risk
Politically Exposed Persons (PEPs)—those who currently serve or previously held a prominent public function or those with close ties to such a person—present a high risk for potential involvement in corrupt activity, including bribery by virtue of their position and the influence.
Countries around the world are tightening their anti-bribery laws in an effort to combat corruption. As we’ve seen with the stringent enforcement of the U.S. Foreign Corrupt Practices Act, regulators require a higher degree of due diligence when conducting business with PEPs, and inadequate due diligence can expose your organization to reputational damage, multi-million dollar fines and vast legal costs.
Mitigate the risks of working with companies or individuals on OFAC, PEP & watch lists
Stay abreast of what’s happening across scattered information sources. The U.S. Office of Foreign Assets Control (OFAC) alone has 28 sanctions programs, and it is best practice to also monitor key watch lists such as:
- U.N. Security Council Sanctions Committees
- The European Union’s Common Foreign and Security Policy (CFSP)
- The U.K. HM Treasury
- Politically Exposed Persons (PEPs)
Why Lexis Diligence®?
Tracking this much data manually is time-consuming—and you risk missing important information. Lexis Diligence® brings together this fragmented array of sources, allowing you keep up-to-date on government sanctions, watch lists and PEPs—all from a single interface. In addition to this content, you can leverage on-the-ground media reports and in-depth country risk analysis reports to identify high-risk issues before they impact you. Our comprehensive content collection includes:
- Global PEP watch list including 1.4 million profiles of PEPs, as well as those of their family members and close associates.
- Nearly 1,200 watch lists originating from more than 80 countries and translated from multiple languages, covering white collar crimes, crimes against humanity, terrorist threats, non-financial sanctions, payment patterns and insolvencies, disqualified directors and debarred companies, international warrants, national wanted persons, and more.
- Sanctions-related lists including OFAC Enhanced Sanctioned Countries, Specially Designated Nationals (SDN) and Non-SDN list; European Union Designated Terrorists Consolidated List, FBI—Hijack Suspects List; Most-Wanted List; Most-Wanted Terrorists List; Seeking Information List; International Police Most Wanted and Red Alerts; Office of Controller of Currency—Unauthorized Banks List; State Department Terrorist Exclusion List; United Nations Consolidated List; World Bank Ineligible Firms List and others.
For a more robust sample of list coverage, download our content advantage sheet.
Failing to proactively screen for sanctions risk can lead to criminal charges, substantial civil fines, debarment and other restrictions—all at a significant financial and reputational cost. With enforcement on the rise across all industries—not just banking and other financial services—you need a robust sanctions risk mitigation process and easy access to critical sanctions, watch lists and PEPs —all in one place.
Want to see the difference for yourself? Request a free Lexis Diligence® trial.