PEPs & Sanctions
PEPs and Sanctions checks are part of anti-money laundering (AML) and Know Your Customer (KYC) processes. PEPs (Politically Exposed Persons) are individuals in positions of influence, while sanctions checks identify entities restricted by governments or international organisations.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
