Customer screening is the process of verifying a customer’s identity and assessing and monitoring customers by comparing data from external sources. This is key when you do business in the financial sector e.g. financial institutions, banks, or organizations. Thus, you may examine different databases that may contain any information related to their identity. The purpose of customer screening is to ensure compliance with the set regulations as well as reduce the chances of doing business with questionable individuals. Such people range from the wanted list, sanctioned individuals, criminals, politically exposed persons (PEPs), or customers with a high risk of being involved in corruption, financial crime, or illegal activities.