Challenges and Best Practices of PEP and Sanctions Screening, Part 1: The Importance of Data

Critical to the success of sanctions and PEP screening initiatives is a comprehensive understanding of customer and third-party data, and how to put that data to work for the organization. Poor data quality can greatly increase the number of false positives requiring review, which also increases the risk of missing a true match and incurring fines or reputational damage. Addressing these issues early in the screening process will help lay a successful foundation for all compliance initiatives, as sanctions and PEP screening programs are only as strong as the data that is fed into them.

Specific topics include:

• The importance of understanding your client data
• Getting the most out of your sanctions, PEP, and high-risk entity database
• Common examples of the types of data issues that may impact your program - and how to solve them
• How applying data quality processes to your data before screening can significantly reduce false positives

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