KYC & AML Global Watchlists

What KYC & AML Global Watchlists should you refer to when compiling your datasets?

Know Your Customer (KYC) compliance requirements frequently require identity checks against known or suspected money laundering, terrorist, or other persons considered high risk. The following should be a start when compiling your datasets to check for your client KYC/AML program.

    • Bank of England Sanctions List (BOL)
    • Bureau of Industry & Security (BIS) Denied Persons List
    • Bureau of Industry & Security (BIS) Entity List
    • Bureau of Industry &Security (BIS) Unverified List
    • CIA World leaders
    • DFAT (Department of Foreign Affairs and Trade) List (Consolidated) Australia
    • Directorate of Defense Trade Controls (DDTC): Debarred Parties List
    • European Union : Consolidated List of Persons, Group, Entities
    • European Union: EU Terrorist List
    • FinCEN Section 311 – Primary ML Concern
    • European Union CFSP list (Common Foreign and Security Policy)– Entities subject to EU Sanctions
    • HM Treasury list UK
    • OFAC SDN (Office of Foreign Assets Control Specially Designated Nationals List)– USA
    • OFAC PLC – Palestinian Legislative Council List
    • OFAC Sanctions Programs
    • OSFI (Office of the Superintendent of Financial Institutions) list – Canada
    • OCC Office of the Comptroller of Currency: Unauthorized Bank List
    • UK Secretary of State Terrorist List:  Home Office
    • UN Consolidated List — United Nations
    • US General Services Admin (GSA): Excluded Parties List
    • System US Immigration and Customs Enforcement: ICE Fugitives
    • US State Dept. FTO Foreign Terrorist Organizations List
    • US State Dept. WMD Non-Proliferation List
    • World Bank List of Debarred Parties (Ineligible Firms & Individuals)

In another article I explained how at C6 Intelligence they base the definition of a PEP  (Politically Exposed Person) on the FATF version.

See: http://paulrenner.com/C6-Intelligence/C6-Intelligence-what-is-a-PEP-Politically-Exposed-Person-By-Paul-Renner-C6.html

Foreign PEPs are individuals who are or have been entrusted with prominent public functions by a foreign country, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials.

Domestic PEPs are individuals who are or have been entrusted domestically with prominent public functions, for example Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials.

Persons who are or have been entrusted with a prominent function by an international organisation  refers to members of senior management, i.e. directors, deputy directors and members of the board or equivalent functions.

The definition of PEPs is not intended to cover middle ranking or more junior individuals in the foregoing categories.

PEP Categorisation

For more in depth Regulatory Data and Insight lists see: http://www.c6-intelligence.com/Data/What_We_Cover

Paul Renner is the co-founder of C6 Intelligence Information Systems which is used daily by banks, financial institutions, insurance companies, and regulators to take a risk-based approach to managing fraud, money laundering and staff compliance risks.

Paul Renner is also the co-author of ”Preventing Financial Instrument Fraud – The Money Launderer’s Tool”, originally published by the ICC (International Chamber of Commerce) Commercial Crime Services(CCS), now called the ICC Financial Investigation Bureau. The fraud models described within the publication has been referenced by the UK City of London Police and prosecution services, to support their case and secure convictions against fraudsters.