insic Update (english): PEP Check

With the ‘insic Update’ series of articles, we give you a complete overview of the software required to implement the compliance requirements of German and European regulation.

You can find all articles in this series on our multilingual overview page.

Error-tolerant PEP synchronisation for clear results in real time without minimum acceptance

The PEP check enables the error-tolerant search for politically exposed persons in real time. This service is designed for individual and entities subject to special due diligence obligations under the Money Laundering Act.

After providing a name and birth data, the system performs an optimised search of natural persons in the reference data of the info4c database. If a PEP is identified, a clear and detailed response is delivered in real time.

The service can be accessed efficiently via the insic Workflow Manager. PEP checks are concluded only when there is a specific need, such as for active players.

Billing is solely transaction-based, with a very competitive pricing per query and no minimum purchase requirement.

The PEP lists include approximately 650,000 politically exposed persons from over 240 countries and territories, mostly sourced from official databases. These lists comply with the current requirements of the Financial Action Task Force (FATF) and the 6th EU Money Laundering Directive. The service identifies both active and former decision-makers who may have influence over decision-making processes, enabling targeted monitoring.

Among other profile details, the following groups of people are covered:

  • Heads of state and government
  • Government/cabinet members
  • Members of parliament
  • Members of the supreme courts
  • Presidents of the National Bank and senior members of the administration
  • Political and religious leaders
  • Senior military officers
  • Chairmen of state-owned companies
  • Regional functionaries
  • Ambassadors/embassy staff
  • International organisations
  • Relatives and ExPEPs

Find reliable PEP data at competitive rates for your active clients!