When the AML SmartFlow has an automatic PEP lookup, that information is sent to Risk monitoring. If a persons PEP lookup indicates that they or individuals connected to them are politically exposed, this will be flagged with a pink PEP pill on the overview page.
When this happens you can review the PEP results of the person to check if the person found matches the person that you are risk assessing.
- Reviewing PEP results for individuals
- Reviewing PEP results for individuals that are connected to a legal entity
- What the PEP review options mean
Reviewing PEP results for individuals
To do that, click on the arrow to the left of the person you want to assess.
Next click View in the PEP box in the second row of the overview. This will open the PEP report in another tab so you can review it.
Note: When more than one PEP result was found, only the first one is shown here. To see all the results scroll down to the documents section to view each one.
View the report and determine if the person that was found is the same person that you are risk assessing. To note your findings, either click the Review PEP button in the third row of the page or click the pencil icon in the PEP box in the second row.
Reviewing PEP results for individuals that are connected to a legal entity
When an individual that is connected to a legal entity has a PEP result that needs to be reviewed, the legal entity will be marked with "Possible PEP" in Risk factors.
To review the PEP reports open the legal entity.
Next find the list of connected individuals. The individuals that have a PEP report that needs to be reviewed will be marked with the "Possible PEP" risk factor. Click on the arrow to the right of the individual to open their page.
You will see the PEP report in the PEP box in the second row by clicking "View" and also in the documents section.
When you have determined if the PEP result is accurate click the pencil icon in the PEP box and document your findings.
If the person has been found to be PEP, the possible PEP pill by their name on the legal entity page will be changed to PEP, but if they have not been found to be PEP, it will be removed.
What the PEP review options mean
Mark your findings as such:
- If the individual is indeed PEP and management has approved of doing business with them, choose "Approved"
- If the individual is indeed PEP but management does not approve of doing business with them, choose "Denied"
- If the results do not match the individual, or the PEP has expired (more than x months since they held their position) choose "false positive".
You can include some notes about your findings if you want.
If Denied or False positive is selected, the PEP pill will be removed.