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Politically Exposed Person Report

What is it?

The Politically Exposed Person (aka PEP) report screens an individual to determine if they are an individual who is or has been entrusted with a prominent function by a local, regional, national or international governmental body. If someone is identified as a politically exposed person, they have a greater risk for financial institutions with regard to AML and CFT (Anti-Money Laundering/Combating the Financing of Terrorism) measures. Additionally, the PEP report can surface matches against relatives and close associates of prominent individuals, as these are also viewed as a potential source given their connections with the PEPs.

Dashboard view

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Interpreting the report in dashboard

PEPinterpreting.png

Class

Each position a PEP holds is categorized by a risk level. The risk level for each type of position is listed below and follows the stated classification system:

  • PEP Class Types
    • High risk: pep-class-1
      • Heads of state and government
      • Members of government (national and regional)
      • Members of parliament (national and regional)
      • Heads of military, judiciary, and law enforcement
      • Board members of central banks
      • Top-ranking officials of political parties
    • Medium risk: pep-class-2
      • Senior officials of the military, judiciary, and law enforcement agencies
      • Senior officials of other state agencies and bodies and high-ranking civil servants
      • Senior members of religious groups
      • Ambassadors, consuls, and high commissioners
    • Medium risk: pep-class-3
      • Senior management and board of directors of state-owned businesses and organizations.
    • Low risk: pep-class-4
      • Mayors and members of local, country, city, and district assemblies
      • Senior officials and functionaries of international or supranational organizations

Position

Within a given class section, all the positions associated with an individual are listed. If the individual is a relative or close associate, these positions will be listed at the same class level as the person they are related to.

Interpreting the API response 

  • result
    Result is a list of person hits that come back as politically exposed

  • positions
    Positions are a list of relevant positions that are flagged as having some kind of risk level. A single item in this list has the following attributes: 
    1. name: the name of this position
    2. pep-class: the risk level of this position
    3. source-key: a slug that maps to a key in sources
  • sources
    The sources object is a map in which the key is a value from the source-key in the positions object and the value is an object with the following attributes:
    1. url: the url of this source
    2. name: the name of this source e.g. UK Parliament
    3. flag-code: the associated country of this source

Associated Workflow criteria

You may want to automate your decisioning process based on information from the PEP report, such as running different risk class levels through different checks, or only leveraging a subset of PEP risk classes based on your screening criteria. In order to do this successfully, you will need to build a workflow. Please contact your account owner or support@withpersona.com for help building your workflows and see below for a list of supported criteria:

  • Continuous Run

Checks whether or not this was a continuous run

  • Match Found

Whether or not there was any match against the PEP report.

  • PEP Class Types

If the report has a match, the different PEP classes the PEP report matches against.

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