Personator World: Watch lists, Sanctions & PEP Screening
Melissa Team | Identity Resolution |
By Kevin Ubay-Ubay
Ever since Melissa launched the Personator World web service, we have been excited to hear how it has helped clients with their ID verification needs. We’re pleased to share we’re taking another step forward and that Personator World now provides watch lists and PEP (politically exposed persons) screening. This makes Personator World an even more attractive fit for those seeking to meet necessary KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements.
One of those typical requirements involves screening parties against sanctions and watch lists. Screening in particular is an important step in determining the risk of an individual or party and is especially important in large international industries, such as finance and ecommerce, where it’s ever more important to make sure business is not being conducted with those committing illegal money activities such as money laundering (AML) or financing terrorism.
Personator World web service makes it easy for customers and developers to solve the following problems and difficulties when it comes to screening:
Coverage
Personator World already screens against some of the biggest sanctions and global watch lists publicly available. These include lists published by the US Office of Foreign Assets Control (OFAC), US Bureau of Industry & Security (BIS) and various EU & UN consolidated sanctions lists.
In addition, PEP checks are also covered with our database that contains information on world leaders and politicians in 200+ countries and territories.
We’re also committed to continually finding and adding new lists and sanctions. Since Personator World is hosted in the cloud, when we import and incorporate these new watch lists into our database, customers automatically get the benefits of being able to screen against those lists and sanctions.
Time
Manually screening parties on an individual basis can be a time consuming and costly process. In today’s global landscape, there are a wide number of watch lists and sanctions to check against to meet compliance globally. Personator World saves time by providing the tools needed to automate the screening process. By integrating Personator World into your processes, screening a party or individual against a wide variety of watch lists and sanctions only takes a matter of seconds.
Accuracy
Manual screening is not only time consuming, but it can also be prone to error. By replacing manual review with a solution like Personator World, human mistakes can be prevented.
As most of our clients know, Melissa has decades of experience in data quality, and we’re bringing that expertise to screening and meeting your compliance needs. Name and address information are cleansed and standardized to ensure the data is properly formatted and fielded. This is done on information provided by our clients and the information on the watch lists and sanctions, as they are being screened and compared against in order to allow more accurate matching and comparison.
Personator World can also hurdle over common issues such as nicknames, typographical errors and initials by using our existing data quality solutions that Melissa is known for. With this, Personator World simultaneously helps minimize false positives and the risks of missing potential matching hits.
Ease of Use
Personator World provides a simple web API that developers can easily integrate into their applications. Existing customers of Personator World will find that that they can easily start leveraging the screening functionality with very little and minimal change to their existing code/software.
For more information about Personator World, please click here.