Inclusion ‘State Invested Entity’ as Sub-category of PEP
Inclusion of ‘State Invested Entity’ (SIE) as a specific sub-category of risk within ‘Politically Exposed Person’ alerts provided by World-Check will enhance the coverage of the customer screening use case.
SIEs may be used as vehicles for corruption, bribery, or money laundering schemes. Hence, Sanctions lists may specifically target SIEs, especially if they are linked to regimes or countries subject to international restrictions. Transactions involving SIEs can therefore carry both PEP and sanctions risk.
Details on Political exposure risk will be displayed in iHUB to help in the investigation.
This will help financial institutions in regulatory compliance and to uncover political exposure risks for ‘State Invested Entities’ (SIE) which will help in better regulatory compliance, manage risk, and protect customers’ business reputation.
Steps to enable and configure
You don't need to do anything to enable this feature.