OFAC Mismatch

We have a customer who's name is somewhat similar to a name on the PEP list, but is a false positive. It happens to be the parent to one of our employees. They want to know if there is a way to get their name reported as a "false positive" so that doesn't keep showing up on account opening searches. I don't know if there is such a thing, but thought I would ask.

Reported where? PEP lists come a variety of sources and there is no "official" list.

It came through on a Qualifile/Chexsystems report. It says right on there Enhanced Politically Exposed Person and they gives all the relevant information.

Ask Qualifile/ChexSystems were the list comes from. It is not the government. I doubt Qualifile/ChexSystems excepts anything regarding false matches.

The thread title is misleading. The OFAC list is a list of person, entities, vessels, etc. that the United States has sanctioned that no U.S. person perform transactions for or engage in transactions with.

A Politically Exposed Person is a government official or close associate of a government official. There are no prohibitions against opening accounts for PEPs, but you should have appropriate policies and procedures for due diligence. In the case of a false positive when opening an account, how many accounts is this person opening and why would this show up more than just when your performing a Chexsystems review of that person?

And to Randy's point, I don't think Chexsystems is going to alter their proprietary algorithm for name matching to appease an employee of one bank.