Why Your Company Needs PEP and Sanctions Screening

| January 4, 2021

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As a business owner, you probably know that compliance is essential to keeping your business running. This means safely storing financial records to protect client privacy, maintaining firewalls around all your data, and screening clients both during and after the onboarding process. Unfortunately, this third step often goes ignored – so much so that institutions around the world paid nearly $27 billion in non-compliance fines from 2008 to 2018!

All financial institutions (and all other businesses, for that matter) should conduct PEP screening and sanctions screening on every customer who wants to work with them. Not only is this necessary to avoid penalties and fees, but it’s also an important step to prevent illegal activities within your organization.

But what do these screenings look for – and why does it matter to your business? Here’s what you need to know about PEP and sanctions screening.

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The Joanne Weaver Group

The Joanne Weaver Group is a NYC-based, 100% digital, independent recruitment agency specializing in placing freelance and fulltime creatives in UX/UI and Product Design roles. We help build teams for user-centered design studios, innovative startups, digital product design companies, mobile and emerging platform specialty firms, and major interactive agencies. We work with clients across all sorts of verticals: entertainment, publishing, fashion, financial, CPG, museums, think tanks… the list goes on.

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