1.\tMitigating Financial Crime Risks:<\/h5>

Financial institutions are vulnerable to exploitation by individuals involved in financial crimes such as money laundering, bribery, and corruption. Politically exposed persons (PEPs), including candidates and their associates, pose a higher risk due to their potential influence and access to significant resources. Screening against election commission data helps identify such PEPs and mitigate the risk of facilitating illicit financial activities.\n \n

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2.\tEnsuring Regulatory Compliance: <\/h5>

Regulatory authorities impose stringent compliance requirements on financial institutions to prevent money laundering, terrorist financing, and other illicit activities. Many jurisdictions mandate the screening of individuals against PEP lists, which often include candidates and their associates. By screening against election commission data, financial institutions demonstrate compliance with these regulatory obligations.\n\n \n

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3.\tProtecting Against Reputational Damage: <\/h5>

Being associated with individuals involved in corruption or other illicit activities can tarnish the reputation of financial institutions and payment aggregators. By screening candidate details, including spouses and associated parties, against election commission data, these entities can safeguard their reputation and maintain the trust of their customers and stakeholders.\n\n\n \n

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4.\tEnhancing Due Diligence Processes: <\/h5>

Financial institutions are required to conduct thorough due diligence on their customers and counterparties to assess their risk profile and ensure regulatory compliance. Screening against election commission data provides additional insights into the backgrounds of individuals, enabling more robust due diligence processes and better risk assessment.\n\n\n\n \n

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5.\tPreventing Regulatory Penalties and Legal Liabilities: <\/h5>

Failure to comply with regulatory requirements related to screening for PEPs and politically exposed businesses (PEBs) can result in severe penalties, including fines, sanctions, and legal actions. By implementing effective screening measures, financial institutions and payment aggregators mitigate the risk of regulatory non-compliance and associated liabilities.\n\n\n\n\n \n

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6.\tSupporting National and International Efforts Against Financial Crime: <\/h5>

Screening against election commission data aligns with broader national and international efforts to combat financial crime and uphold the integrity of the financial system. By actively participating in these efforts, financial institutions and payment aggregators contribute to the overall stability and security of the global financial ecosystem.\n\n\n\n\n\n \n

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ZIGRAM\u2019S Competitive Advantage in AML\/Sanctions Screening\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The recent Indian general election has presented a unique opportunity to strengthen our position as a leader in AML and sanctions screening. By consistently tracking and updating election data, we've gained a significant first-mover advantage that translates into tangible benefits for our clients. Here's how our approach sets us apart from the competition.\n\n\n\n

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Minimizing False Positives: <\/a><\/h5>

Traditional PEP lists primarily focus on individuals already holding official positions. This approach can generate a high number of false positives, leading to wasted time and resources for investigators. We go beyond this limitation by capturing candidates and their associates during the election cycle. This broader view reduces false positives and ensures you're focusing on the most relevant individuals.\n\n\n

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Deeper Database with Level X PEPs: <\/a><\/h5>

Including Level X PEPs (candidates and associates) significantly expands the depth of our database. This provides a more holistic view of potential risks by incorporating individuals who may exert political influence but haven't yet assumed official positions. With our comprehensive database, you gain a clearer picture of the political landscape and the potential actors involved.\n\n\n

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Focus on Influence, Not Just Position:<\/a><\/h5>

Political influence can extend far beyond those holding official titles. We recognize this by considering not just the candidate themselves but also their spouses and associated parties, as disclosed in the candidate's affidavit. This granular approach ensures you don't miss any potential red flags that might arise from a candidate's network of connections.\n

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By incorporating these elements, our comprehensive screening solutions empower you to identify PEPs more effectively, assess risk profiles with greater accuracy, and ultimately, uncover potential financial crimes during elections. This focus on a broader spectrum of political actors, along with our commitment to data accuracy and regulatory compliance, positions us as the ideal partner for your AML and sanctions screening needs. For a Free Demo, Click Here<\/a>.\n\n\n

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• \r\n \r\n <\/i>\r\n <\/a>\r\n Facebook<\/span>\r\n <\/li>\r\n
• \r\n \r\n <\/i>\r\n <\/a> \r\n Twitter<\/span>\r\n <\/li>\r\n
• \r\n \r\n <\/i>\r\n <\/a> \r\n Youtube<\/span>\r\n <\/li>\r\n
• \r\n \r\n <\/i>\r\n <\/a>\r\n Linkedin<\/span>\r\n <\/li>\r\n
• \r\n \r\n <\/i>\r\n <\/a>\r\n Email<\/span>\r\n <\/li>\r\n
• \r\n \r\n <\/i>\r\n <\/a>\r\n Instagram<\/span>\r\n <\/li>\r\n \r\n <\/ul>\r\n <\/div>\r\n <\/div>\r\n <\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#PEP<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#Database<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#India<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#GeneralElection<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#ElectionCommission<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#Compliance<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t#RiskManagement<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    India’s recent general election has significantly reshaped the landscape of anti-money laundering (AML) and sanctions screening. With the inclusion of over 8,000 candidates into our database of Politically Exposed Persons (PEPs), RegTech companies like ours are now better positioned to offer comprehensive and timely due diligence services. <\/p>\n","protected":false},"author":1,"featured_media":17236,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,54],"tags":[42,43,7],"class_list":["post-17234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-peps","category-screening","tag-general-election","tag-india","tag-pep"],"_links":{"self":[{"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/posts\/17234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/comments?post=17234"}],"version-history":[{"count":2,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/posts\/17234\/revisions"}],"predecessor-version":[{"id":21503,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/posts\/17234\/revisions\/21503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/media\/17236"}],"wp:attachment":[{"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/media?parent=17234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/categories?post=17234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/testv2.zigram.tech\/wp-json\/wp\/v2\/tags?post=17234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}