As part of the Customer Due Diligence (CDD) process, it’s essential to verify your client’s background—and in the case of legal entities, also the individuals who control them. Specifically, you need to determine whether they are Politically Exposed Persons (PEPs) or appear on any sanctions lists.
Parallel integrates a comprehensive database with access to hundreds of PEP and sanctions lists, allowing you to automate these checks. This ensures your CDD procedures are thorough, all within the Parallel platform—no need to switch tools.
You can add list screening both to the parallel (for KYC workflows) and to the client profile to enable ongoing monitoring.
To include this step in your KYC processes, simply add the “Background check” field to your forms.
This field will search for matches based on the parameters you provide (individual or legal entity, name, and date of birth). The results will display all potential matches so you can review and save the correct one.