Challenges and Best Practices of PEP and Sanctions Screening, Part 4: Alternative Ways of Implementing the Risk-based Approach
Highlighting the advanced capabilities of FinScan, Innovative's sanctions and PEP screening solution.
Many people use a "one-size-fits-all" approach when screening for Politically Exposed Persons (PEPs), with one set of matching rules and matching against all records on the PEP database. If loose matching rules are used, this approach typically produces a high degree of false positives. If tight matching rules are used, the risk of missing a real PEP increases.
This informative webinar looks at alternative approaches to PEP screening that can help organizations reduce their overall number of false positives by:
- Excluding very low-risk segments from the process
- Adjusting the match rules to the level of risk of the segments screened
Specific topics include:
- Assigning risk to PEPs according to their territory within the PEP database
- Assigning risk to PEPs according to their category within the PEP database
- How to apply different matching rules for different categories and territories of PEPs
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