bronID uses fuzzy matching when screening for PEPs and Sanctions. Fuzzy matching is a technique that provides matches that may be less than 100% perfect when finding correspondences between segments of a text. This is because the entities (individuals or organisations) that you are screening may not precisely match the entities listed on the PEPs and Sanctions lists (e.g., John Citizen vs Jon Citizen).
The following are the most common reasons why someone would match a PEPs or Sanctions list:
- The individual/entity appears on a PEPs or Sanctions List;
- The submitted name is an alias;
- The individual is a relative or associate of someone who appears on a PEPs or Sanctions List;
- The individual/entity is associated with an entity that appears on a PEPs or Sanctions List;
- The individual/entity has a similar name to an individual/entity that appears on a PEPs or Sanctions List.
If bronID has flagged that an individual or an entity is on a PEPs and Sanctions list, the first thing you must do is check for false positives.
Check for false positives in the bronID Standard PEPs and Sanctions Screening
- Click on the list (coloured in red) or find the list on the Internet;
- Search for the name. If you achieve a match, check other details such as the country of residence/incorporation, date of birth or the images to assess if the individuals or the entity is the same as the one listed. If the name and other details match, then you should follow your internal risk-based procedures to decide whether to accept this customer. If the details do not match, then you may assume that the match is a false positive. On the other hand, if you can not find the name or a similar name on the list, then you may assume that the match is a false positive;
- You can add notes in the verification's Notes section in the right slider about the additional checks you have performed to assess the match and the results you have obtained.
Check for false positives in the bronID Enhanced PEPs and Sanctions Screening
- Open the list accordion by clicking on the down arrow;
- Inspect the data that bronID returned to assess if the individual or entity fit your definition of a PEP or a Sanctioned individual/entity.