Clients worldwide benefit from our unique database structure by experiencing lower false positive rates during the customer screening process. With industry averages ranging from 2% to 4% of clients’ names screened delivering incorrect results; WorldCompliance uniquely focuses on significantly lowering false positive rates and costs.
Our Micro Categorization process allows for data selection on such a granular level that clients have the option to exclude PEPs (Politically Exposed Persons) that knowingly pose no risk and may be irrelevant to their organization.
WorldCompliance also applies risk scoring, which identifies PEPs known to be under investigation or actively affiliated with activities that may pose a risk to clients. This allows for the allocation of manual resources on those clients who potentially pose the greatest threat, versus investing time and resources into matches that are unlikely to cause any harm.
It’s important to note that the definition of a PEP varies from country to country; this has a major effect on search results. For instance, Germany does not require tracking PEPs at a local mayoral level; whereas Mexico requires tracking at the local, state, national and international levels.