Screening Customer List

The Screening section displays a list of your customers awaiting screening. Each row represents a single customer and includes the following information:

• Customer Name: The name of the customer.

• Screening Status: Indicates whether the customer has been screened (Completed) or not (Pending).

• Manage: A dropdown menu with the option to “Run Screening.”

Running Screening

To run a screening for a specific customer, click on the “Manage” dropdown menu and select “Run Screening.” This will initiate the screening process, comparing the customer’s information against various watchlists and databases.

Screening Results

Once the screening is complete, the results will be displayed below the customer list. The results may include:

• Matched Sanctions: Indicates whether the customer matches any entries on global sanctions lists.

• PEP: Indicates whether the customer is a PEP or associated with a PEP.

• Criminal: Indicates whether the customer has a criminal record or is associated with individuals with criminal records.

• High-Risk Jurisdiction: Indicates whether the customer is located in or conducts business in a high-risk jurisdiction.

• Other Matches: Indicates any other relevant matches found during the screening process.

Saving and Reviewing Screening Results

The screening results can be saved for future reference and review. If there are any positive matches, partial matches, or concerning information, the screening results can be sent for review by a designated reviewer.

Sending Screening Results for Review

To send the screening results for review, click on the “Review” button. This will notify the reviewer of the pending review and provide them with access to the screening results and supporting documentation.

Review Process

The reviewer will carefully examine the screening results and supporting documentation. They may request additional information or clarification from the onboarding team if necessary. Based on their assessment, the reviewer will either approve the customer or request further investigation.

Next Steps

Upon approval from the reviewer, the customer can be onboarded and integrated into your system. If further investigation is required, the onboarding team will gather the requested information and resubmit the customer for review.

Additional Considerations

• Screening frequency: Customers should be screened periodically to maintain ongoing risk assessment.

• Watchlist updates: AML Pulse regularly updates its watchlists to ensure they are current and comprehensive.

• Compliance with regulations: Effective screening practices help businesses comply with AML regulations and mitigate potential risks.

By effectively utilizing the Screening section in AML Pulse, you can safeguard your business from financial crimes, protect your reputation, and maintain compliance with AML regulations.

Onboarding Individual Clients

To onboard an individual client, follow these steps:

1. Navigate to the Clients section and select the “Add Individual Client” option.

2. Enter the client’s personal information, including full legal name, first name, middle name, last name, date of birth, nationality, country of residence, IBAN, VAT, and PEP status.

3. Provide the client’s contact details, including email address, phone number, street address, city, state, province, region, ZIP/postal code, and country.

4. Upload the client’s proof of address document, such as a passport, ID card, or residence visa.

5. Enter the details of the client’s passport or other ID document, including number, issue date, expiry date, and issuing country.

6. Upload the client’s passport or ID document file.

7. If applicable, enter the client’s residence visa number, expiry date, and upload the residence visa document.

8. Provide the client’s financial information, including occupation, employer name, annual income, source of funds, and supporting document.

Onboarding Entity Clients

To onboard an entity client, follow these steps:

1. Navigate to the Clients section and select the “Add Entity Client” option.

2. Enter the entity’s full legal name and entity type.

3. Provide the entity’s registration number, country of incorporation, province/jurisdiction of incorporation, and date of incorporation.

4. Enter the entity’s business activity or type and country of business operations.

5. Specify the entity’s country of tax residency.

6. Provide the entity’s IBAN and VAT.

7. Enter the entity’s contact details, including email address, phone number, street address, city, state, province, region, ZIP/postal code, and country.

8. Upload the entity’s trade license and enter the trade license number, issue date, and expiry date.

9. Upload the entity’s memorandum of association and proof of address document.

10. If applicable, upload the entity’s power of attorney document and other relevant documents.

11. Add shareholders, controlling persons, and ultimate beneficial owners.

Additional Considerations

• Mandatory fields: Fields marked with an asterisk (*) are mandatory and must be completed.

• File uploads: Supported file formats for document uploads include PDF, JPEG, and PNG.

• Verification: AML Pulse may request additional documentation or clarification to verify the accuracy of the provided information.

Reviewing Customer Details

The Review section displays the customer’s details, screening results, and any supporting documentation provided by the onboarding team. The reviewer carefully examines this information to identify potential risks and determine the appropriate course of action.

Customer Category Selection

The reviewer selects the appropriate customer category from the dropdown menu. The options include:

• Individual

• Politically Exposed Person (PEP)

• Close Relative or Associate of PEP

• Non-Resident Individual

• Customer from a High-Risk Jurisdiction

• Customer with Suspicious Activity

• Entity/Corporate/Legal Person

• Sole Proprietorship

• Limited Liability Company (LLC)

• Public Shareholding Company (PJSC)

• Private Shareholding Company

• Government Entity

• Trust/Non-Profit Organization

• Offshore Company

• Freezone Company

• Money Services Businesses (MSBS)

• Virtual Asset Service Provider (VASP)

Location/Jurisdiction Assessment

The reviewer assesses the customer’s location or jurisdiction and selects the appropriate risk rating from the dropdown menu. The options include:

• High Risk

• Medium Risk

• Low Risk

Business Activity Risk Assessment

The reviewer evaluates the customer’s business activity and selects the appropriate risk rating from the dropdown menu. The options include:

• High Risk

• Medium Risk

• Low Risk

Review Note

The reviewer provides a detailed review note summarizing their assessment of the customer’s risk profile and any concerns identified.

Review Assessment Note

The reviewer provides a concise assessment note highlighting the key findings of their review and any recommended actions.

Overall Risk Rating

The reviewer assigns an overall risk rating to the customer based on their comprehensive assessment. The options include:

• High

• Medium

• Low

Review Action

The reviewer selects the appropriate review action from the dropdown menu. The options include:

• Approve Customer

• Require Further Investigation

• Reject Customer

Next Steps

Based on the review action selected, the customer’s status will be updated accordingly. If the customer is approved, they can be onboarded and integrated into the system. If further investigation is required, the onboarding team will gather the requested information and resubmit the customer for review. If the customer is rejected, they will not be onboarded, and the reasons for rejection will be documented.

Additional Considerations

• Reviewer expertise: The reviewer should have a thorough understanding of AML regulations, risk assessment methodologies, and customer due diligence procedures.

• Documentation: The reviewer should thoroughly review all supporting documentation provided by the onboarding team.

• Communication: The reviewer should communicate with the onboarding team if they require further clarification or additional information.

• Compliance: Effective review practices help businesses maintain compliance with AML regulations and mitigate potential risks.

Additional Review and Analysis

The second-level reviewer in the Review subsection of AML Pulse plays a crucial role in conducting a thorough and comprehensive assessment of customer details and screening results. They perform additional review and analysis to ensure that the customer onboarding process is rigorous, risk-based, and compliant with AML regulations.

Key Responsibilities of the Second-Level Reviewer

1. Scrutinize Customer Details: The second-level reviewer meticulously examines the customer’s KYC (Know Your Customer) information, including personal details, financial information, and business activities, to identify any inconsistencies or potential red flags.

2. Analyze Screening Results: The reviewer carefully analyzes the screening results, paying close attention to any matches against sanctions lists, PEPs (Politically Exposed Persons), criminal databases, high-risk jurisdictions, and other relevant watchlists.

3. Assess Risk Profile: Based on their in-depth review, the reviewer evaluates the customer’s overall risk profile, considering factors such as customer category, location/jurisdiction assessment, business activity risk assessment, and any identified concerns.

4. Recommend Further Actions: The reviewer provides informed recommendations on the appropriate course of action for the customer, taking into account the risk assessment and any identified concerns. The recommendations may include:

   • Approve Customer: If the customer’s risk profile is deemed acceptable and no concerns are identified, the reviewer may recommend approving the customer for onboarding.

   • Require Further Investigation: If the reviewer requires additional information or clarification to fully assess the customer’s risk profile, they may recommend further investigation. This may involve requesting additional documentation, conducting further screening, or seeking expert advice.

   • Reject Customer: If the customer’s risk profile is deemed too high or if significant concerns are identified that cannot be mitigated, the reviewer may recommend rejecting the customer for onboarding. This decision should be based on a thorough risk assessment and documented accordingly.

Collaboration with Onboarding Team

The second-level reviewer maintains open communication with the onboarding team to ensure a seamless and efficient review process. They may request additional information, clarify discrepancies, or seek further explanations to complete their assessment. This collaborative approach ensures that all relevant information is considered and that the onboarding team is kept informed of the review status and any required actions.

Compliance and Risk Mitigation

The second-level reviewer plays a critical role in upholding the integrity of the onboarding process and mitigating potential risks for the business. By conducting thorough reviews, providing informed recommendations, and collaborating effectively with the onboarding team, the second-level reviewer helps ensure that AML Pulse is used effectively to comply with AML regulations and safeguard the business from financial crimes.

Additional Considerations

• Expertise: The second-level reviewer should have a comprehensive understanding of AML regulations, risk assessment methodologies, customer due diligence procedures, and investigative techniques.

• Judgment: The reviewer should exercise sound judgment and critical thinking skills to make informed decisions based on the available evidence and risk assessment.

• Documentation: The reviewer should meticulously document their review findings, recommendations, and rationale for their decisions.

• Communication: The reviewer should maintain clear and concise communication with the onboarding team to facilitate a smooth and efficient review process.