How to detect misuse of the financial system by PEPs? and PEP behaviour red flags.

How may PEPs attempt to disguise their true Identity?
PEPs Know that their distinction as a Politically exposed Person (PEP) may make easy the unmasking of their illicit behaviour. This means that PEPs may knowingly try to disguise their identity, to prevent any exposure. Here are few examples:
Using corporate vehicles (legal entities) to hide the beneficial owner and create confusion.
Using corporate vehicles without valid a business or business reason.
Using third-party intermediaries when this does not match with normal business practices or to disguise identity of PEP.
Using close family members or confidants as legal owner.
What are the behaviour Red flags with PEPs?
Use of corporate vehicles (legal entities) to hide A) ownership, B) involved industries or C) jurisdictions/countries.
..

Politically Exposed Persons (PEPs) will always try to disguise their identity to avoid being exposed.

How to detect them? Find out about the red flags on our last blog post!

Comments

Using AI-based Tools for ID Verification

Using AI-based Tools for ID Verification Identity theft cases (worldwide and in the UK) have augmented in the last few years, especially in the eCommerce sector, where payment methods are involved. This is why ID verification is such a crucial part of companies nowadays. Using AI-powered solutions in the process - in conjunction with human intelligence - increases the businesses’ chances to process information intelligently and prevent being scammed. Learn more here: https://www.complygate.co.uk/blog/using-ai-based-tools-for-ID-verification

Right to Work Checks

Right to Work Checks From January 2021 the points-based immigration system has been implemented. UK employers have incorporated the proposed practices so all future recruitments are made according to the Government’s Right to Work plan. Learn more on our last blog post.

What is FCA screening and what are good practices for staff recruitment?

What is FCA screening and what are good practices for staff recruitment? #FCAScreening is a set of #PreEmploymentScreening checks set by the #FCA to verify a candidate’s honesty and integrity in order to fit the aspired job position. These #BackgroundChecks comply with the ‘The Fit and Proper Test’ for Approved Persons, which has been set out by the Financial Conduct Authority (FCA). Learn more about it here.

Complygate Blog

Search This Blog