Managing PEPs as part of your customer due diligence can create increased risk and cost if not done well. For instance, a one-size-fits-all approach can result in unnecessary effort and possibly divert resources from where they are more critically needed. By tailoring your risk-based approach to your organization’s global risk policies and requirements, you can greatly alleviate the risks and difficulties of PEP management.

“A Practical Approach to PEP Risk Management,” featured in ACAMS Today magazine, discusses a holistic way to manage PEP risk so that your organization can remain both efficient and effective. Some topics include:

• Challenges of PEP risk management
• Developing a practical, 3 dimensional risk-based approach – including analyzing your internal data and filtering the PEP database to identify only relevant PEPs by jurisdiction, categories and expiry date

This approach has changed how many organizations think about their PEP risk, and we hope that it will benefit your organization too.