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We will verify an individual's presence on global PEP lists using World-Check and other international databases, assess the risk of bank refusals, and assist in adjusting their status.
We are trusted by the participants of the Forbes list
CHECKING and removing PEP-status
The term PEP (Politically Exposed Person) is used in finance and banking to describe individuals who hold high-level government positions or have connections to influential officials, potentially posing an increased risk of financial corruption or money laundering.
The FATF (Financial Action Task Force), an international organization that develops strategies to combat money laundering and terrorist financing, provides clear guidelines on PEP categories: these include high-ranking politicians, government members, top managers of state corporations, heads of state bodies, judges, and others whose influence might significantly impact a country's politics or economy.
The FATF (Financial Action Task Force), an international organization that develops strategies to combat money laundering and terrorist financing, provides clear guidelines on PEP categories: these include high-ranking politicians, government members, top managers of state corporations, heads of state bodies, judges, and others whose influence might significantly impact a country's politics or economy.
WHY DOES HAVING PEP STATUS MAKE IT SIGNIFICANTLY DIFFICULT TO OBTAIN FINANCIAL AND MIGRATION SERVICES?
A person with PEP status is considered high-risk because their connections and influence increase the potential for corrupt activities and money laundering. Consequently, regulators impose strict requirements on banks when dealing with PEPs, necessitating enhanced controls, reporting, and monitoring.
This often involves banks requesting detailed documentation and explanations regarding the origin of funds. Non-compliance can result in hefty fines and reputational damage for banks. As a result, thorough and lengthy PEP verifications are standard when opening accounts abroad or obtaining residence permits or citizenship.
This often involves banks requesting detailed documentation and explanations regarding the origin of funds. Non-compliance can result in hefty fines and reputational damage for banks. As a result, thorough and lengthy PEP verifications are standard when opening accounts abroad or obtaining residence permits or citizenship.
IN some countries TRACKING PEP STATUS IS ESPECIALLY CRITICAL
In countries where the public sector makes significant share of the economy, state corporations usually active in all key sectors, such as finance, mining, transport, IT, and telecommunications. Management in these corporations often receives PEP status. To fully manage the risks linked to PEP status, it's crucial to consider companies with business ties to state corporations. Sometimes, PEP designation is based not on formal criteria, but on perceived connections to the state.
Additionally, banks' requirements for PEPs extend to their relatives, close colleagues, and anyone with ties to a politically significant person, expanding the pool of those affected by PEP-related risks.
Additionally, banks' requirements for PEPs extend to their relatives, close colleagues, and anyone with ties to a politically significant person, expanding the pool of those affected by PEP-related risks.
Avagard Global lawyers can help verify PEP status and check international PEP lists. We use official sources and compliance risk management databases like World-Check, LexisNexis, and Dow Jones. Considering PEP status, we can predict decisions by foreign banks and migration providers and assist in adjusting profiles to remove the status in World-Check.
Team Avagard Global
Avagard Global experts have extensive experience in successfully completing numerous projects to remove PEP status and navigate banking and migration compliance in foreign countries.
Confidentiality
We understand the importance of confidentiality for our clients, so we operate under an NDA, which is signed with both our clients and employees upon hiring.
Team Avagard Global
Avagard Global experts have extensive experience in successfully completing numerous projects to remove PEP status and navigate banking and migration compliance in foreign countries.
Confidentiality
We understand the importance of confidentiality for our clients, so we operate under an NDA, which is signed with both our clients and employees upon hiring.
Assessing the risk of a client being denied banking or migration services involves analyzing data from databases like World-Check, LexisNexis, and Dow Jones, as well as considering the latest legislative changes and current compliance practices of international banks.
our services
COMPLIANCE DIAGNOSTICS
AVAGARD GLOBAL Index
Reputation management
AVAGARD GLOBAL Reputation management
Compliance passing
AVAGARD GLOBAL Сompliance
Result
Task
Task
Result
Development and implementation of a strategy to overcome negative decisions of bank compliance and reduce the risk of blocking to implement specific client tasks. We will select the optimal servicing banks and build payment routes to ensure unimpeded international settlements.
Result
Assets unlocked
Transaction completed
Property purchased
Customer information in World-Check deleted
Transaction completed
Property purchased
Customer information in World-Check deleted
Removing or blocking false, negative or private materials worldwide using SEOвв, IT and legal tools
Creating a positive image through posting and promoting materials in the world's leading online media, social networks and platforms
Creating a positive image through posting and promoting materials in the world's leading online media, social networks and platforms
Negative materials about the client were removed, and the required digital profile was created that met the client’s requirements.
A detailed report will assess the level of compliance risk and outline key risk factors that may lead to difficulties or failures in passing compliance checks.
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Top managers of state corporations, both former and current officials, and their relatives also turn to us for assistance.
Forbes List PEPs Trust Avagard global
