Credit Check with PEP and Sanctions
An Adverse Credit Check provides a candidate credit report to better understand their financial behaviour. As part of this check the report may identify:
- Whether the candidate has repaid their credit on time
- How much credit the candidate has
- How the candidate is managing their credit
It is also possible to look at the candidate's financial associations (who they share accounts with, or who their accounts are connected to) and their credit history.
This check enables understanding of how financially responsible a candidate has been, and how stable their financial situation is. This will reflect on a candidate's ability and capacity to fulfil certain roles or occupy certain positions.
A Global Politically Exposed Persons (PEP) and Sanctions check will ascertain whether the candidate has any political, or financial reasons they cannot by onboarded.
A Politically Exposed Person is someone who is identified as being at higher risk of money laundering as a result of potential bribery or corruption.
These people will be in a position of political authority, of a high-profile, or will be closely linked to someone who is.
These can include government ministers, members of the armed forces, members of judicial bodies, or their friends, family or business associates. Put simply, it is anyone in a position that could be abused for financial crime.
The sanctions component of the check will determine whether a candidate is from a nation with commercial (trade), financial (economic) or diplomatic sanctions imposed on them by the government you are in. It will also see whether the individual in person, or their company, has any government-imposed sanctions on them. Information that needs to be taken into account during the recruitment and onboarding process.