What is a special interest person?
A special interest person, or SIP for short, is usually a well-known individual with a history of financial crimes, or other activities which make them a high-risk prospect.
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What is PEP risk?
In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold.
How do you check if someone is a PEP?
You can check to see if your name is on a PEP register by viewing your Multi Agency Credit Report with checkmyfile.
What is a SIP person?
A SIP is a Special Interest Person, also known as a SIE, Special Interest Entity, A SIP OR SIE is an individual or business that has been accused of or arrested for or convicted of, or is undergoing trial for crimes such as corruption, financial crime (e.g. fraud, theft, money laundering, and tax evasion), trafficking.
WHAT IS Thomson Reuters World check?
Thomson Reuters World-Check, the trusted and accurate source of risk intelligence made available to help organizations meet their regulatory obligations, make informed decisions, and help prevent organizations from inadvertently being used to launder the proceeds of crime, or association with corrupt business practices …
What is red flag in KYC?
Red flags include: A significant amount of private funding from an individual running a cash-intensive business. The involvement of a third party private funder without an apparent connection to the business or a legitimate explanation for their participation.
What is risk data?
According to the Basel Committee on Banking Supervision (BCBS), the term risk data aggregation means “defining, gathering and processing risk data according to the bank’s risk reporting requirements to enable the bank to measure its performance against its particular risk tolerance/appetite.” The committee adds that “ …
What is Dow watchlist?
Dow Jones Watchlist provides comprehensive coverage of senior PEPs, their relatives and close associates as well as national and international sanctions lists, and profiles of persons linked to high profile crime. Dow Jones is a News Corporation company.
What does ProQuest cost?
$299.95
Is ProQuest an academic source?
Empowering Researchers with Extraordinary Information ProQuest databases provides a single source for scholarly journals, newspapers, reports, working papers, and datasets along with millions of pages of digitized historical primary sources and more than 450,000 ebooks.
Are PEPS high risk?
While Financial Action Task Force (FATF) guidance3 recommends that all foreign PEPs should automatically be classified as high risk, the Wolfsberg Group advocates for the application of an RBA for all PEPs, whether foreign or domestic.
What are some of the risk categories that Dow Jones screens against?
Corruption · Financial crime (includes money laundering, fraud, tax evasion and theft) · Trafficking (i.e. narcotics, human, firearms and commodities) · Organized crime · Terrorism · War crimes · Sanctions: Comprehensive sanctions-list coverage, with international and domestic-level coverage.
What are the 4 stages of money laundering?
The stages of money laundering include the:
- Placement Stage.
- Layering Stage.
- Integration Stage.
How much does Factiva cost?
Factiva – Dow Jones DJX service starts at $249 per month/user. For more robust service, which includes access to Factiva.com and ability to download up to 5,000 reports per year, it would cost $399 per month/user.
What is Factiva database?
DOW JONES FACTIVA is a current international news database produced by Dow Jones, one of the leading global provider of economic and financial information. This database combines over 30,000 sources to give students, faculty, and librarians access to premium content from 200 countries, in 28 languages.
What is a Dow Jones check?
The check is performed by screening an individual’s name and, when available, date of birth and nationality through Dow Jones Risk and Compliance’s sources to provide a list of the individual’s potential matches to sanctions and politically exposed persons (PEPs). This check variant is supported for all countries.
What is PEP KYC?
A Politically Exposed Person (PEP) is an individual with a prominent public post or a public function. The PEPs fall under the category of high-risk customers by the financial institutions and thus need additional KYC.