New York City Paralegal Association Inc.

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FinScan: Risk-based Approach to PEP Screening

  • 21 May 2020
  • 12:00 PM - 1:00 PM
  • webinar
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Challenges and Best Practices of PEP & Sanctions Screening Part 4: Risk-based Approach to PEP Screening


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More and more, regulators around the world are emphasizing the need for organizations to identify and monitor Politically Exposed Persons (PEPs) within their customer base. Appropriately managing PEP risk through an effective risk-based approach tailored to your requirements can greatly lower your risk. If not managed well, PEP screening can become the primary culprit of your false positive problems, significantly increasing your cost and effort.

How do you manage PEP risk while remaining efficient in your due diligence process?

Though the range of PEP risk varies greatly among the type of PEP, many organizations still use a “one-size-fits-all” approach when screening, with one set of matching rules applied to all records in the PEP database. This approach typically produces a high number of false positives – or significantly increases the risk of missing real PEP matches.

This informative webinar looks at practical approaches that organizations can take to efficiently implement their own risk-based approach for better identification and monitoring of PEP risk. Join us, and in just 1 hour, learn how to drastically reduce your overall number of false positives while still maintaining control over risk.

Specific topics include:
  • Different types and categories of Politically Exposed Persons (PEPs)
  • Utilizing granular controls within the PEP database and your matching algorithm to reduce the “noise”
  • Assigning risk to PEPs according to their territory and category within the PEP database
  • Conducting a data analysis and configuring matching rules to include or exclude certain risk levels, types, and categories of PEPs
  • PEP case studies and examples of applying a risk-based approach in PEP programs

Questions will be answered both during the session and at the conclusion.

PRESENTED BY:

Ben Krige

Ben Krige
Senior Consultant - Professional Services
FinScan

Neil Marshall

Neil Marshall
Data Screening Specialist
FinScan


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