AML & PEP Screening against watchlists
Screens individuals and businesses against politically exposed persons (PEP), sanctions and money-laundering watchlists in one verification, and produces a screening record you can file.
AML & PEP Screening runs anti-money-laundering (AML) screening on individuals and businesses against politically exposed persons (PEP), sanctions and money-laundering watchlists, all in one verification and in the same flow as your other verifications. A screening result is the beginning of an enquiry rather than the end of one.
What you get, and where it stops
What you get
- Whether the name you submitted matches an entry on the politically exposed persons (PEP), sanctions and money-laundering watchlists screened.
- A timestamped screening record showing that the screening was run.
Where it stops
- That a match is your customer. Name matches need review against secondary identifiers, and that disposition is a human step that follows.
- That no match means no risk. It means nothing in the list data screened matched, as that data stood when the screening ran.
Chain it with
A flow is several verifications run as one journey. These pair naturally with AML & PEP Screening.
What you need to run it
- Name
- The name of the person or business to be screened.
What comes back
A screening outcome, returned in real time. Each screening is a point-in-time result.
- Screening outcome
- No match, match or potential match.
- Lists screened
- Politically exposed persons (PEP), sanctions and money-laundering watchlists.
Every result is filed with a timestamped audit record.
| Outcome | What it means |
|---|---|
| No match | Nothing in the list data screened matched, as that data stood when the screening ran. |
| Match | One or more entries matched the name submitted. A match is the start of an enquiry, not a finding. |
| Potential match | Entries matched closely enough to look at, most often on name. Look carefully: a same-name entry can be completely unrelated to your customer. |
Where it fits in your compliance programme
Screening helps you evidence the sanctions scrutiny the Financial Intelligence Centre Act 38 of 2001 (FICA) requires of accountable institutions. On notice of a designation, South African law requires an accountable institution to scrutinise its client information to determine whether any client is a listed person or entity (FICA section 28A(3)(b), read with the designation mechanism in section 26A), and section 26B prohibits dealing with a designated person or entity. Keeping the record is what sections 22 and 23 require of you. Reporting duties, including those in section 29, sit with you.
Veriflow produces the screening record. Deciding what a match means for your relationship with that customer, and whether a report must be filed, is your determination and cannot be delegated to a vendor.
Questions
What kind of lists does Veriflow screen against?
Politically exposed persons (PEP), sanctions and money-laundering watchlists, in one verification.
Does a potential match mean my customer is on a sanctions list?
No. It means an entry matched closely enough to look at; whether it is your customer is for you to establish.
Does Veriflow decide whether I have to file a report?
No. Reporting duties under FICA sit with you: some apply only to accountable institutions, and the duty to report suspicious and unusual transactions applies to any business. Veriflow produces the screening record; the decision, and any report, is yours.
How do I run AML & PEP Screening, and what does it cost?
It runs on its own or as one step in a flow. Run it from the portal, or through the API with a sandbox to build against (credentials on request). There is no public price list: book a demo and a specialist prepares a pricing proposal built around your volumes. You can pay as you go from a wallet or settle monthly on invoice.
About results
Veriflow will perform the Services with the reasonable skill and care of a competent provider of identity-verification services in South Africa. Veriflow transmits results sourced from third-party data sources, including registered South African credit bureaux, banks, official registers and published watchlists. Veriflow does not compile that underlying data, does not warrant its accuracy, completeness or currency, and gives no warranty that any verification result is correct.
A Result is an input to the Client's own assessment. Veriflow does not decide whether any person or entity is onboarded, declined, priced, offboarded, employed, granted credit or reported, and makes no recommendation as to any of those outcomes. Those decisions are made solely by the Client, on its own criteria and under its own legal obligations, and the Client must not use a Result as the sole basis for any adverse outcome affecting a person.
Every verification
People & identity
Business & compliance
- CIPC Company Verification
- Director Search
- Public Servant Verification
- AML & PEP Screening
Build the flow, not the verification
Tell us the journey you run and we will show you how it chains together.
Last updated .