PEPs

As part of our screening options, Credas runs checks for global Politically Exposed Person's (PEPs). Our PEPs checks also include former and associated PEPs. If you wish to run a PEPs screening on an individual, you can either run a manual check on them here, or you can issue the individual a journey that includes a PEPs check by following the steps here.

Definitions 

PEP

A PEP is an individual who is or has been entrusted with a prominent public function, excluding middle-ranking and junior officials. This status is recognised in anti-money laundering and counter-terrorist financing regulations because such persons may present higher risks of corruption, misuse of power, or influence. 

PEPs are typically categrorised in Tiers, Credas offers the below:

• Tier 1: Examples include heads of states, members of government, and party leaders.
• Tier 2: Examples include senior officials of law enforcement agencies and judges.
• Tier 3*: Examples include middle and low ranking diplomats.

Click here to see a full list of the different positions included in each tier.

*Under UK regulations, only roles within Tier 1 & 2 are considered PEPs so as a default these are turned off. However if you wish to include Tier 3 in your screening, please let us know by completing the form here.

Former PEP

An individual is reported as a former PEP if they left their position as a PEP within the last 12 months. 

Associated PEP

In addition to those identified as either current/former PEPs, our search will also reveal individuals that have a strong connection with a PEP. Relatives and close associates are defined as:

Direct family members of PEPs:

• Relatives such as parents, spouses, civil partners, children and siblings are counted as direct family members of PEPs and are all covered consistently for all countries. 

Extended family members of PEPs:

• Additional categories of relatives are in scope depending on the national requirement for countries whose national PEP definitions explicitly require them.
• This would include daughters and sons in law, parents-in-law or second-degree relatives such as grandchildren or cousins. 

Close associates of PEPs: 

• Individuals explicitly mentioned as 'close associate' of a PEP as well as business partners (defined as joint shareholders in private companies and persons, who are reported as owners of businesses and other assets set up for the benefit of a PEP). 
• This definition also includes 'gatekeeper' services providers of PEPs such as lawyers, notaries, accountants, investment advisors, trust and company service providers who assist in transactions involving the movement of money or, as defined by the Wolfsberg Group - persons acting in a financial fiduciary capacity. 
• Employers and employees of PEPs could also be considered close associates depending on a) the time of the association and b) the seniority of the appointment and its proximity to the PEP.

PEP screening using Credas

What datasets are used for PEP screening?

The datasets used to screen for PEPs includes:

• Domestic government websites
• International government websites
• Official public administration websites
• Media reports
• AML/CTF legislation
• EY PEPs lists
• Public transparency projects

What information does Credas provide?

If available, the following information will be provided to help you remediate any possible matches:

• First name
• Last name
• Headshot
• Aliases
• Date of birth
• Gender
• Nationality
• Associated address
• Country
• Position
• PEP level
• Date from-to

The original URL source link will also be presented to assist in your remediation, and if the URL is no longer active, the file of the information will still be accessible presenting you with the same information. 

What happens if a possible match for a PEP has been flagged?

If possible matches are identified to the individual in question, these will be presented to you, as can be seen below and you will need to manually review the information and identify if it is the individual in question. We recommend reviewing the full report, original URL source/the PDF evidence to help you with your remediation in identifying if the possible match is the individual in question. You can understand your report further here. If you have any questions on how to remediate a possible match, this will be down to your internal compliance policy. 

Credas+

If you are using Credas+, our trained back office team will remediate possible matches for you (for PEPs & Sanctions*). This means you will either be presented with a match or no match. In the case you are presented with a match, please refer to your internal compliance policies. You can understand your report further here.

*Credas+ does not include remediation of possible matches for law enforcement, adverse media, profiles of interest or disqualified director flags. 

Got any questions? 

If you have any questions please reach out to the Credas support team by contacting us here

We are committed to continually improving our support resources for you. We would greatly appreciate your feedback on this article to help us enhance your experience.