RDC Revolutionizes PEP Risk Management

 

Latest PEP Connect advances reduce the costs and challenges of Anti-Money Laundering and Anti-Corruption programeporting requirements.

KING OF PRUSSIA, PA – March 18, 2013 – Regulatory DataCorp, Inc. (RDC), the leader in decision-ready intelligence and risk and compliance services, today announced revolutionary enhancements to our PEP Connect product. For the first time, a single PEP product contains the world’s largest collection of Politically Exposed Persons (PEP) data that is fully embedded with position risk, corruption risk, and event risk markers.  This allows our clients to screen and rate their customers for PEP risk in a single step, dramatically enhancing their risk management and processing efficiency.

The newly announced innovations include:

  • PEP Connect – Comprehensive, fully sourced records of senior officeholders, military officials, judicial figures, state-controlled enterprise directors, regional and municipal officials, legislators, and senior political party officials, along with family members and close associates.
  • Detailed coverage in 240 countries, with a special emphasis on key countries posing greater risk to our clients, requiring greater depth of information, including information on opposition party members, shadow government officials, influence peddlers, and other risk-relevant individuals.
  • PEP Connect records are built through extensive public source research and are matched against the broadest database of risk relevant information in the industry, RDC’s GRID.  GRID now exceeds 18 million records covering adverse media, sanctions and watch lists gathered from over 10,000 sources and updates on a daily basis.
  • PEPs are classified using a risk rating algorithm that incorporates entity risk, position risk, country corruption ratings, and any event risk, including breaking news events.
  • In response to changing regulatory requirements, RDC has added the largest listing of U.S. PEPs, covering more than 200,000 U.S. PEPs for clients that choose enhanced and comprehensive coverage of domestic politically exposed persons.
  • All attributes of PEP Connect are configurable based on client preferences and support all forms of risk-based approaches so that the broadest coverage can be delivered efficiently and in line with individual firm needs.

RDC uses a methodology underpinning PEP data vetted and shaped by experts from the Wolfsberg Group, U.S. intelligence community and former AML officers. RDC data on PEPs is updated continuously and reviewed by a team of analysts located in regional desks globally. RDC’s commitment to quality ensures that the product meets or exceeds country- and region-specific regulatory requirements and definitions, including the USA PATRIOT Act Section 312, Financial Action Task Force (FATF) and EU Third AML Directive. In addition, the product assists in compliance with the Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act.

"These product enhancements highlight RDC’s commitment to continued product innovation, as we help our customers navigate the changing regulatory landscape and ever-evolving risks” said Anurag Mathur, Chief Product Officer of RDC. “RDC was awarded the first PEP-related patent, and with these enhancements we continue our thought leadership to drive more effective and efficient solutions to protect our clients.”

RDC’s PEP Connect solution ensures that financial institutions and other regulated organizations concerned with PEPs can fully comply with AML/KYC regulatory requirements by knowing which customer accounts require additional scrutiny.  RDC’s enhanced due diligence PEP solution is a powerful tool in assisting financial institutions with compliance obligations to safeguard against money laundering and avoid substantial penalties in the process.

RDC will demonstrate the PEP Connect solution March 18 – 20, 2013 in booth #312 at the ACAMS 18th Annual AML & Financial Crime Conference at the Westin Diplomat in Hollywood, FL. For a demo of PEP Connect or information on how to access these product features, contact info@rdc.com.

About RDC

Regulatory DataCorp, Inc., also known as RDC, delivers powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity. With the world’s largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; and credit risk monitoring to a wide range of clients worldwide. Founded by 20 of the world’s leading financial institutions, today RDC is a Bain Capital and Goldman Sachs portfolio company. Learn more about RDC by emailing info@rdc.com or visiting www.rdc.com.

Date: 
Monday, March 18, 2013
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