Have you already screened your customers? Monitoring your customers is an important part of the Customer Due Diligence process. Only then will you always be kept informed of any changes within your CDD client portfolio. The fourth European Anti-Money Laundering Directive requires companies that are subject to AMLD not only to check customers but also to monitor them.
Monitoring can be automated with CDD On Demand solution. You can choose which search queries you want to monitor. The CDD On Demand solution automatically checks daily whether one of your search queries appears in an Acuris Risk Intelligence database. As soon as something changes for one of your customers on the monitor list, you will immediately receive a notification.
What is the monitor function?
According to the AMLD, the background checks must be performed again at every customer contact moment. Background checks must be performed daily for certain risk profiles. Checking customers daily is time-consuming and expensive. The monitor function has been developed to make this process possible.
Met de monitorfunctie wordt een persoon of bedrijf voor 2 credits een jaar lang op de monitoringlijst geplaatst. Personen en bedrijven op deze lijst worden op dagelijkse basis gecontroleerd of zij voorkomen op de punten hiernaast.
Active or historical sanctions
Law enforcement agencies
Politically Exposed Persons (PEPs)
The monitoring list shows an overview of the persons and companies on the monitoring list. This list provides insight into the status:
- monitoring active/inactive;
- active until;
- automatic renewal on/off;
- date of last check.