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Introduction to Lexisnexis Risk Solutions
- 1. Introduction to LexisNexis Risk Solutions - AML/CTF Screening Solution – PEP Screening
- 2. WorldCompliance Data Highlights • 67 risk categories including terrorism, narcotics, money laundering, fraud, tax evasion, collateral crimes and Politically Exposed Persons (PEP) Law • Over 32,000 sources monitored in 57 native languages • Over 125,000 updates or additions per month • Sanctions, Enforcements, PEPs & Adverse Media • Largest dedicated research team in the industry – 24/7 research operations • Over 2.5m Consolidated Risk Entities 2Proprietary & Confidential - Do not share outside of your organization. • Multi lingual profiles available and searchable in English and local language. Names are provided in non-romanised character formats where required • As a matter of policy, every attempt is made to find 3 different sources for all profiles (with the exception of sanctioned entities). • Over 90+ sanctions lists, 1000+ enforcement lists monitored and updated in real-time • Unique combination of expert researchers, proprietary technology and proven research and content process efficiencies
- 3. Nearly 450 analysts and researchers in 14 offices worldwide, gathering and structuring information Key Regional and Topical Considerations Risk Solutions 3 LexisNexis WorldCompliance data. Key languages monitored Albanian Arabic Armenian Bosnian Bulgarian Cantonese Chinese Croatian Czech Danish Dari Persian Dutch Estonian Filipino Finnish French German Greek Hebrew Hindi Hungarian Indonesian Italian Japanese Kannada Konkan Korean Latvian Lithuanian Macedonian Malayalam Malaysian Mandarin Marathi Montenegrin Norwegian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swedish Taiwanese Tamil Tigrigna Thai Turkish Ukrainian ไทย Urdu Uzbek Vietnamese العربية 한국의 русский 中國 עברית 日本人
- 4. There is no global definition of a PEP. Most countries have based their definition on the Financial Action Task Force on Money laundering (FATF) definition. • A current or former senior official in the executive, legislative, administrative, military, or judicial branch of a foreign government (elected or not) • A senior official of a major foreign political party • A senior executive of a foreign government-owned commercial enterprise, being a corporation, business or other entity formed by or for the benefit of any such individual • An immediate family member of such individual; meaning spouse, parents, siblings, children, and spouse's parents or siblings • Any individual publicly known (or actually known by the relevant financial institution) to be a close personal or professional associate. • The FATF definition is not intended to include middle-ranking or more junior individuals although some local laws do. • As of Feb 2012, the FATF definition was revised to include domestic PEPs • Most FATF member countries treat domestic and foreign PEPs with heightened scrutiny. • The FATF Guidance says that if a person is a foreign PEP, that de facto makes them a domestic PEP in their own country. (In order to export proceeds of crime, the PEP must first use their own domestic financial system and thus, more importance should be placed on domestic, and non-foreign PEPs) FATF Definition of a Politically Exposed Person (PEP) Risk Solutions 4
- 5. Over sixty risk categories Risk Solutions 5 Aircraft hijacking Antitrust violations Arms trafficking Asset freeze Associate Attorney Bank fraud Bribery Burglary Conspiracy Corruption Counterfeiting Courts Crime against humanity Debarred Diplomat Disciplined Disqualified Drug trafficking Embezzlement Environmental crimes Espionage Explosives Extort-Rack-Threats Family member Financial crimes Forgery Former PEP Fraud Fugitive Gambling operations Govt. branch member Healthcare fraud Honorary consul Piracy Political candidate Pollution Pornography Price manipulation RICO Securities fraud Senior party member Smuggling Stolen property Tax evasion Terrorism Unauthorised Union leadership War crimes WMD Human rights abuse Human trafficking Interstate commerce Investigation Kidnapping Labour violations Mgmt. Govt. Corp. Military Money laundering Mortgage fraud Most wanted Murder Organised crime Others Insider trading Peonage Pharma trafficking
- 6. Questions & Contact Details For further information please contact the ICIL team
Editor's Notes
- JWE – Multi-lingual only for Latin America ? Otherwise, all profiles are in English. Names are provided in non-romanized character formats where required. Recommend the revised statement: “As a matter of policy, every attempt is made to find 3 different sources for all profiles” Joy – UPDATED as of 23 Dec
- Languages are an important component because it indicates coverage and lends credibility when we make statements concerning the sources from which we extract information (news m Albanian Arabic Armenian Bosnian Bulgarian Cantonese Croatian Czech Danish Dari Persian Dutch English Estonian Filipino Finnish French German Greek Hebrew Hindi Hungarian Indonesian Italian Japanese Kannada Kazakh Konkani Korean Latvian Lithuanian Macedonian Malayalam Malaysian Marathi Montenegrin Norwegian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Standard Mandarin Swedish Taiwanese Tamil Tigrigna Turkish Ukrainian Urdu Uzbek Vietnamese edia sources and court filings for example)
- JWE – Recommend the revised statement: The FATF Guidance says that if a person is a foreign PEP, that de facto makes them a domestic PEP in their own country. (In order to export proceeds of crime, the PEP must first use their own domestic financial system and thus, more importance should be placed on domestic, and non-foreign PEPs) Joy : updated as of 23 Dec 2014.
- This is a sample of he over sixty risk categories that we follow. Each profile containing a relationship tree of family members and business associates. We may want to consider including a summary profile highlighting the unique indicators and relationship tree.