Which statement about sanctions list screening and PEP screening is incorrect?

• A. Sanctions list screening checks individuals/entities against sanctions lists; PEP screening identifies politically exposed persons and heightened risk.
• B. PEP screening is used to identify political exposure risk and to enhance due diligence for high-risk individuals.
• C. Sanctions list screening and PEP screening are the same process.
• D. Both are applicable components of an AML program for insurers.

Answer: (C)