Who is the AML screening supplier for KYC Protect? 


The service provider for AML screening is Acuris Risk Intelligence (ARI also known as ION).


The previous version of Protect used Lexis Nexis, will Acuris provide the same data? 


Acuris is providing the same or equivalent coverage of sanctions and enforcement data as Lexis Nexis. We have also tested their PEPs and adverse media screening coverage, and can confirm that they provide equivalent, if not, greater coverage on the whole for these datasets, especially with respect to micro PEPs.  


What datasets can be screened in KYC Protect?


You can screen against the following datasets: Sanctions, Enforcement, PEP, Adverse Media, State Owned Enterprise, Profile of Interest, Disqualified Director (UK Only), and Insolvency Register (UK Only). You can also filter out certain PEP tiers.


What is a Profile of Interest?


A Profile of Interest is an individual or business that has a highly influential position and therefore has an increased risk to financial crimes. These individuals could be linked to sanctions, PEPs, or any other category of screening.


What are the PEP tiers that KYC Protect supports?


KYC Protect uses tiers to help users distinguish between the different types of PEP: 


PEP Tier 1: Heads of state, government members, military and law enforcement leaders, top judiciary members, officials in courts of auditors and central banks, Members of Parliament, and top officials in mainstream political parties, distinguishing them from minor parties without parliamentary representation.

PEP Tier 2: Members of regional legislative and executive bodies, judges at regional levels, ambassadors, diplomatic officials, leaders in international/regional organisations, presidents/chairpersons, and board members of State-Owned Enterprises, businesses, and organisations. Additionally, heads and senior members of mainstream religious groups and mayors of global capital cities, including those directly appointed and accountable to the Chinese central government, fall under this category.

PEP Tier 3: Mid-ranking officials in the military, judiciary, law enforcement, central banks, and other state agencies, with specific designation and level determined by the country's ML/TF and corruption risks profile. It also covers heads and board members of Trade Unions, presidents, secretary generals, directors, and board members of international NGOs. Additionally, it encompasses middle-ranking diplomats, alternate/deputy members of parliament/senate, mayors and local council members at municipal levels, and senior civil servants at regional/provincial or equivalent levels, including officials in administrative bodies at the local level.

PEP-Linked: Includes family members, personal associates, and business associates of PEPs, serving on boards alongside them. Close associates, as per FATF, encompass known partners, prominent members of the same political party or civil organisation, and business partners who share beneficial ownership of legal entities or have other connections with the PEP.


Is it possible to select or deselect these datasets before screening?


Yes, you can select risk datasets that are relevant to your organisation’s risk policy.


Is it possible to screen in Bulk in KYC Protect?


Yes, you can upload a file of up to 50,000 records to be screened in bulk. The format is defined in the provided screening file template.


What fields in bulk uploads are mandatory?


The following fields are mandatory within the bulk template:

Category: Specifies the action (e.g. create a profile, create a key party addition within a profile, or delete a profile). 

Profile Type: Required when creating a new profile (e.g., Company, Individual) 

Profile Name: Unique name for the profile; mandatory for new profiles.

Entity Type: Indicates if the entity is a business or individual; required for AML screening.

Full Name: Legal name for businesses or name for individuals; essential for AML screening.

Process: Upload a CSV file following the provided template, which includes various columns for different data points. The system validates and processes the file, updating the status accordingly.

Please note: Each action category has specific mandatory fields that must be filled out correctly for successful processing. If the template is not filled out correctly the system will reject the entire file.  


Important: You must select whether you want to add initial screening and/or monitoring. This was not required in the previous service, but you are required to specifcy this in KYC Protect.


For detailed instructions, please refer to the user guide.


Is it possible to screen directors and shareholders of a business? 


Yes, depending on the information available, you can screen directors, shareholders, and UBOs identified in a business report. 


What are the main Sanctions lists included in KYC Protect? 


OFAC, EU, UN, HMT, BOE, FBI, BIS, and many more.


What are the main Enforcement lists included in KYC Protect?


FDA, US HHS, UK FSA, SEC, and many more. 


Can I set the match threshold when conducting AML Screening? 


Yes, it is possible to increase or decrease the match threshold in 5% increments from 75% -100% confidence matching, according to your needs before screening. Please note that it is currently possible for all users to adjust the match threshold.


When running AML Screening for adverse media, will the source tell us where it got that information from?

 

Yes, you can view the details of hits including the sources.

 

If there are multiple records for the same person in a report, do I have to import all of the records and screen each one?

It is recommened that you add all of the information and conduct screening and monitoring in one tab. By doing this, you have noted that the person is, for example, a director, shareholder and UBO for both audit purpses and in the interest of protecting your business.