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Below we reference KYC (Know Your Customer) questions that have been stored in BFS. These are commonly stored as custom fields using the KYC_ prefix before the name of the KYC question or stored as a JSON object. At the following link Suggested KYC Questions we have a suggested naming convention for storing KYC questions and answers, however, within the AML Manager you can define your KYC Question names that you have used. |
Group ID | Description | Interval |
|---|---|---|
1 | Flags related to relationships between KYC Questions | These will only be checked on the day following the submission of new or updated KYC Question data, this ensures that they will only be checked once each time the KYC info is updated and not trigger a possible alert every day. |
2 | Flags answers to KYC questions that breach certain limits | These will only be checked on the day following the submission of new or updated KYC Question data, this ensures that they will only be checked once each time the KYC info is updated and not trigger a possible alert every day. |
3 | Transaction monitoring | These will be checked on the first day of the calendar month for the previous calendar month. |
4 | Flags answers to KYC question in relation to transactions | These checks compares the KYC answers with the actual deposit or withdrawals that are made. |
Currently you can subscribe to any of the following AML Flags.
AML Flag ID | Group | Description |
|---|---|---|
1.1 | 1 | A customer (Legal entity) that has entered a KYC answer to a KYC question that they will save more each month than their gross income per month. |
1.2 | 1 | A customer (Legal entity) that has entered in KYC question an amount for the monthly savings amount where it does not agree with what they have entered that they will invest each time. Here we are looking at the range stored for capital to invest and reading the upper value and then multiples the monthly savings amount by 12 months to check if this is above the maximum capital to invest level. |
1.3 | 1 | A customer (Legal entity) that has entered in KYC question for starting amount that is larger than X % of the entered amount for total assets. |
2.1 | 2 | A customer (Legal entity) that has entered in KYC question for monthly savings an amount that is larger than X. |
2.2 | 2 | A customer (Legal entity) that has entered in KYC question for starting amount that is larger than X. |
3.1 | 3 | A customer (Legal entity) has made total sum of deposits during the month that are above X or 6 x GrossMonthlyIncome, whichever is higher. |
3.2 | 3 | A customer (Legal entity) has made total sum of deposits during the month that are above X. |
3.3 | 3 | A customer (Legal entity) has made >= X number of withdrawals during the month. |
3.4 | 3 | A customer (Legal entity) has made X number of withdrawals per month during the last X number of months. |
3.5 | 3 | A customer has made a deposit that are above X. |
3.6 | 3 | A customer has made a deposit and is Politically exposed. |
4.1 | 4 | A customer has entered a KYC answer to a KYC question on total sum yearly deposits that is less than the total sum of deposit annually. |
4.2 | 4 | A customer has entered a KYC answer to a KYC question on yearly deposit frequency that is less than the total quantity of deposit annually. |
Example of custom field on a person that is needed for 4.1 and 4.2:
Key:
KYC_JSON
Value:
{
"KYC_AnnualDeposit": "10000",
"KYC_NumberOfAnnualDeposits": "6"
}
How will the AML Alerts show up?
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