Improving Risk & Compliance Standards in Africa

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 AfriPEP - PEP Intelligence for Africa

Until now Africa has been the only major geographic region of the world without a centralized PEP intelligence database. The introduction of AfriPEP has allowed Africa to close this intelligence large gap within its AML/CFT risk obligations. AfriPEP is a compilation of intelligence data on more than 100,000 politically exposed people in Africa on a bespoke platform. AfriPEP allows financial institutions anywhere in Africa to get immediate access to PEP intelligence in any jurisdiction from a single source. 

How to Manage PEP Risks with AfriPEP

Conduct Screening and Risk During On-Boarding 

AfriPEP allows financial institutions to easily perform quick screening on each new client at the account opening stage to ensure that newly on-boarded clients are not affiliated or related to politically exposed persons in that jurisdiction or neighboring jurisdictions. AfriPEP is by far the surest and quickest way for financial institution to conduct PEP risk assessment at the account opening stage. AfriPEP can be used by relationship managers at the branch or by compliance staff in the back office.

Payment Screening and Due Diligence

In addition to being an onboarding risk assessment tool, AfriPEP can also be used to conduct payment screening to easily detect and identify beneficial ownership in PEP related transactions. Unlike the on-boarding process, payment screening requires a simple, easy, and quick method to detect PEP related transactions. AfriPEP is an excellent tool for payment screening because of its ability to easily identify and detect PEPs quickly.

Customer Due Diligence on High-Risk PEPs

Different PEPs have different risk levels. AfriPEP allows financial institutions to obtain CDD reports on high-risk PEPs in any African country. AfriPEP provides access to a full CDD report for each high-risk PEP in any jurisdiction. The CDD component allows for further investigations on high-risk PEPs to help financial institutions manage risks associated with doing business with PEPs. CDD reports on high-risk PEP are available to users that opt for the advanced version of AfriPEP.

Critical Intelligence on over 100,000 PEPs on a Bespoke Platform  

AfriPEP ensures that financial institutions in Africa stay current on their PEP obligations by providing information from multiple sources to ensure reliability and accuracy. ACCPA works with government departments and agencies in every country to collect official data for its AfriPEP database. The information contained in AfriPEP is updated on a daily basis to ensure that newly elected or appointed public officials from different countries around Africa are added accordingly. General elections are consistently monitored across Africa to ensure that AfriPEP stays up-to-date and current.  

Gain Access to PEP Intelligence in any Jurisdiction in Africa

The appeal of AfriPEP is that it cuts across national borders. It allows financial institutions that do not have sources on the ground in different jurisdictions in Africa to get access to PEP intelligence in any jurisdiction. AfriPEP is exceptionally relevant to the compliance functionality of financial institutions that operate in multiple jurisdictions in Africa. Compliance staff of the same bank in different jurisdictions can now access PEP intelligence on an Africa-wide basis from a single source that automatically updates on its own. 

Optimized Functionality and Reduced Cost Burned for PEP Intelligence

AfriPEP is specifically designed for Africa. As such, both the functionality and pricing takes into account the African reality. AfriPEP is priced to fit the budget of African financial institutions regardless of size, total asset, or revenue stream. AfriPEP pricing comes at different levels so every financial institution can determine which pricing level fits it budget. Pricing levels do not limit access to PEP intelligence but may limit the number of people who can access PEP intelligence.

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