You may have often heard that PEPs qualify for exclusive identification and verification, be it at financial institutions or corporates. Usually happening in the form of leadership screening in corporates, their verification is important as they are capable of wielding direct/indirect influence over organisations they are associated with due to their connections to positions of power. While not all PEPs are corrupt, the wrongful influence of one corrupt PEP can spell financial and/or reputational disaster for an organisation, making it important to verify them before offering them a position aboard your company. PEP is a term used to refer to a politically exposed person or someone in a position of power. Due to their connections to positions of power, PEPs can wield direct or indirect influence over organisations they are associated with and therefore their verification is important before offering them a position aboard your company.
Pep check commonly known as Politically Exposed Persons, are individuals or leaders who play an active political role or assume critical public responsibilities. They can be associated with a wide range of activities across many institutions in various industries and have direct or indirect influence on impeding companies. However, with proper verification, it is possible to hire these people into your company without risking undue consequences from their previous experiences.
The nature of location address verification is an important factor in the hiring process. The company needs to know the address of all its employees, as that is the most secure and sure-shot way of contacting any employee in case of emergencies. Hence, companies need to maintain accurate records of addresses of individuals working for them. Address checks become important in such cases as the address is a vital part of identity verification and shows stability in the life of the candidate.
What is nature of location in address verification? In today’s world, due to the increased digitization of personal information and identity thefts and frauds are on the rise. Increased counts of identity theft are causing concerns for individuals. Address detail is an important personal information of any individual which can be attest to the identity of an individual. Unfortunately, they are easy to fake. A recent study found that more than 15% of job applicants lied about their current and permanent address details. The address details of the employee are very important as an address is a good measure of stability when it comes to an individual’s life. It is important for every company to maintain correct and uniform records of all its employees, as that gives them an understanding as to how they can contact their employees in case of emergency or other proceedings. While doing so, companies need to ensure that their candidates have submitted correct and accurate address details on their job application forms.
Digitization of the personal information has created a new world of opportunities for frauds and identity thefts. At the same time, it has increased the need for robust online security checks to protect our private information. One such critical aspect is verifying an individual’s address, as it can be used as a strong validation factor in cases of identity verification or hiring.