Politically Exposed Person
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PEP SearchesA politically exposed person (PEP) is an individual who is or has been entrusted with a prominent public function. Many PEPs hold positions of influence and as a result carry a greater risk, if their influence is abused for the purpose of money laundering, corruption or bribery. In addition to that, any close business associates or family member of these people may also be deemed as being a risk and therefore could also be added to the PEP list.  As part of AMLD4, the definition of PEPs was extended to include domestic PEPs i.e. Irish residents in prominent public functions, and obliged entities will be required to review their customer registers to ascertain if they need to apply Enhanced Due Diligence to any existing customers as PEPs under the new definition, as well as applying these measures to new customers at on-boarding. AMLD5 is the most recent amendment to the directive (Jan 2020) and requires EU member states to gather and publish a list of what are considered 'prominent public functions' and those who execute these roles are now considered a PEP. | KYC & AML Compliance
Ask Us A Question...?If you have a question on any of our KYC / AML services, Tel: (01) 903 2660 and ask our compliance specialists. |
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Why CRIFVision-Net for your PEP Searches?The CRIFVision-Net PEP Search platform is the culmination of several years of research into this area. While some providers like to promote the idea all AML systems are the same. The truth is they vary greatly in depth, timeliness and coverage of data sources. The Widest Coverage Available The CRIFVision-Net PEP platform provides users with access to over 1.4m PEP's, 4 million profiles of high risk individuals along with 20m supporting documents across 131 jurisdictions. The data grows daily from over 14,000 media sources and is continually monitored. We believe this is the widest global coverage available. A New Focus On Domestic PEPs In Ireland
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What Makes The CRIFVision-Net PEP Database Unique?
Unlike others CRIFVision-Net publishes its coverage and sources of our globe data - to ensure our clients know they are receiving the most comprehensive solution on the market.
In addition to this CRIFVision-Net is the only PEP Screening Service in Ireland that enriches our PEP data with local insight and updates to ensure our clients are always receiving the most relevant and up-to-date result.
CRIFVision-Net also extends our Irish PEP screening service to include other services such as Sanction Checks and uniquely bankruptcies, personal insolvencies, disqualified persons, revenue defaults - to offer the widest most in-depth AML checks available in Ireland.
Chat through your compliance requirements with one of our Compliance specialists on Tel: (01) 903 2660.