Governments throughout the world are tightening their regulations in response to a continuous rise in bribery and corruption, putting businesses that engage with Politically Exposed Persons (PEPs) under increased scrutiny. Creditsafe’s PEPs & Sanctions checks enable your business to exhibit strong governance, all the while upholding a reputation of integrity.
Trusted by some of the world’s leading companies
Comply with regulations and ensure AML compliance with PEPs & Sanctions checks.
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Global Politically Exposed Persons Data
Our global Politically Exposed Persons (PEPs) Database of 800k records is based on a manually sourced agenda of worldwide elections.
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Sanctions List Screening
Instantly cross-reference over 300 data sources to manage and mitigate risk including Credit Data, International PEPs and Sanctions Lists, Passport and European ID Cards, Electoral Roll, plus household and utility bills.
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Crime and watchlist data
Our crime and watchlist database covers more than 8,000 records from Interpol’s Red Notices and the FBI’s Most Wanted List.
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On-going monitoring
On-going monitoring is critical for your compliance and should be undertaken to protect your business from money laundering and other financial crimes under 5MLD.
Which lists are included in our PEPs & Sanctions data?
Our Politically Exposed Persons & Sanctions checks search against over 3000 databases including:
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HM Treasury Sanctions List
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Department of State
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Interpol Most Wanted
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EU Consolidated Sanctions List
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Treasury PML List
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Adverse media
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OCC Shell Bank List
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CBI List (The Central Bureau of Investigation)
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ICE List (U.S. Immigrations and Customs Enforcement)
Why use Creditsafe for PEPs & Sanctions checks?
With your business' compliance and efficiency at the heart of what we do, Creditsafe's PEPs & Sanctions checks offer enhanced due diligence that deliver an answer in seconds.
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Paperless audit trail
Reduce costs associated with physical storage, whilst ensuring you are exhibiting good governance with a paperless audit trail. We store a paperless audit trail for 5 years in a highly secure environment to evidence your compliance, whilst protecting your clients' personal data.
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Comprehensive screening
We screen against global PEPs & Sanctions databases as standard, helping you to always stay compliant whilst reducing your own company’s exposure to risk.
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Speed up on-boarding
Reduce customer frustration and drop-off rates due to slow and tiresome KYC processes with instant PEPs & Sanctions checks, so you can focus on the rest of your customer journey.
6AMLD Compliance
The implementation of the new EU money laundering directive (6AMLD) came into effect on 6th December 2020 and must be implemented by all relevant financial institutions by 3rd June 2021.
The 6th Anti Money Laundering Directive aims to empower financial institutions and authorities to do more in the fight against money laundering and terrorism financing by expanding the scope of existing legislation and toughening criminal penalties.
Ready to streamline your PEPs & Sanctions screening process?
Experience the speed of Creditsafe's online compliance checks today.
Frequently asked questions
What are PEPs?
This check will allow you to see if a company has been sanctioned or if a politically exposed person has a connection to the company. There is no unique definition of a PEP. In fact, the criteria varies from country to country and even company to company. A PEP does not necessarily mean someone who is involved in politics, it could include immediate family members, close business associates or even senior executives. These are key individuals and are important to check as a PEP presents a higher risk for potential bribery and corruption due to their position in society and the influence they may hold.
Why do you need PEPs and Sanction checks?
Standard AML checks do not screen clients against Her Majesty’s Treasury (HMT) list, while PEPs are not necessarily included in financial sanctions checks. FCA registered companies are required to run the checks as day-to-day due diligence, not only to reduce their own company’s risk exposure, but to also comply with the current guidelines and stay within the law. It is also the responsibility of the credit or compliance department to carry out proper due diligence when investigating new clients. The guidelines set by the Joint Money Laundering Steering Group (JMLSG) state that every Financial Conduct Authority (FCA) registered company has to be fully aware of whom they deal with under AML and ‘Know Your Customer’ (KYC) guidelines. With a 30-40% increase every year in the PEPs list alone, it is important to screen new and existing clients to make sure they are compliant with the AML guidelines.
What are Sanctions?
If a company has been sanctioned, they have been issued a penalty by law for failure to comply with a court order, law or regulation. It is illegal to deal with a sanctioned company, so it is important to run a check on them and be compliant with the current guidelines set in place. If your company deals with a sanctioned company, even if you are a limited company, you may be personally prosecuted for this and could risk going to jail.
Why do I need to perform ongoing monitoring?
Your customers' circumstances can change frequently, meaning that a historic check may not reflect a customer’s status now. For this reason, ongoing monitoring is a critical component of your compliance with the 4th Anti-Money Laundering Directive.
There is no definitive guideline to say how often your PEPs and Sanctions should be updated. However, our ongoing monitoring service will check the status of the customers you monitor on a daily basis to keep your records up to date.