How to Action your Due Diligence

Introduction

PEP and sanction screening is automatically included with every search you run through the SmartSearch platform. We will also monitor all the searches put through the SmartSearch platform in line with your account (daily, weekly, monthly) for new entrants onto sanctions and PEP lists.

Due Diligence Notifications

If an individual with the same name as the search subject is found on a watchlist, an alert is immediately displayed at the top of the results to prompt you to action this. The appointed MLRO will also receive an email containing the SSID and the details.

Navigating to the Due Diligence Tab

To action your due diligence, click on the due diligence tab.

The Due Diligence Tab 

Basic Information

The search subjects inputted details (full name, DOB and address) are displayed at the top of the page, allowing you to easily compare the input details with any due diligence matches.

Match Summary

The match summary section breaks down any matches into three categories:

Outstanding: due diligence matches to be actioned.

True Matches: confirmed due diligence matches which have been marked as ‘yes my client’.

False Positives: due diligence matches which have either been marked as ‘no, not my client’ or automatically suppressed.

Due Diligence Matches

Underneath the summary, there is a list of matches where you will need to determine if they are your client or not.

Due diligence matches can be filtered by status or date.

 Determine if the match is your client

Photographs, citizenship and residency information are displayed where available, which can be used to eliminate matches as your client.

If you are still unsure you can click ‘view’ under ‘Actions’ which will bring you to another page providing extra information about the match.

Yes, this is my client

If this match IS your client, select ‘YES’. This will trigger ongoing monitoring for that record.

If there are any further changes with your client and ongoing monitoring is on, the MRLO will receive any updates and will be able to retrieve the search and conduct relevant Due Diligence. For example, if your client’s role were to change you would receive a new alert for due diligence.

If you download the PDF report, you will notice that the due diligence report appears at the top of the page, enabling you to see instantly that this is a true match.

No, this is not my client

If the match is NOT your client click ‘NO’ and ongoing monitoring for this specific record will be disabled, meaning you will not be getting further notifications on that specific record.

Audit trail

Once your due diligence has been actioned, a time and date-stamp will be automatically added to the PDF report, providing a further level of detail should you be audited. Bespoke notes can also be added as required.

Guidance 

Sanctions

Indicates an individual with the same name has been found on a Sanctions list. These lists include the HM Treasury and the Office of Foreign Asset Control databases of people who it is prohibited from dealing with. Enhanced Due Diligence will need to take place unless automatically completed by SmartSearch.

Politically Exposed Persons

Indicates an individual with the same name has been found on the Politically Exposed Persons database. Enhanced Due Diligence will need to take place unless automatically completed by SmartSearch.

SIPs and RCAs

Unless otherwise stated these features are currently disabled on your account. Should you wish to enable these please contact your dedicated Customer Success Executive.

Special Interest Persons (SIPs) are people who are convicted, arrested, or undergoing trial for financial or serious crime such as fraud or drug trafficking.

Screening for SIPs is usually switched on when you are concerned about adverse media and reputational risk.

Relatives or Close Associates (RCAs) are people related to or close associates of people on the PEP lists.

Further Support

If you have any questions, please do not hesitate to contact your dedicated Customer Success Executive or another member of our Customer Success Team.