Client risk profiling

Once a client has provided the required information, MarketGuard helps an AML officer needs to define a risk level of this client.

As AML activity focuses not only on gathering client data during the onboarding process but also on monitoring client transactions, MarketGuard requires certain parameters (thresholds) as inputs. For example, an AML compliance officer wants to monitor unexpectedly high daily or monthly turnover on a client account and sets a daily and monthly limit. As clients can be assigned a normal, medium or high-risk level, the limits can also vary.

MarketGuard offers the following tool for risk profiling:

• An AML officer can create (and edit at any time) an AML Quiz in order to define the risk level of a client

• An AML Quiz can be found in Settings > AML Quiz

• Two different types of AML Quizzes can be created: for a business client and for a retail client

• An AML Quiz can have an unlimited number of questions

• Each question can be of two types: Yes/No, Normal/Medium/High. Each answer can be assigned a score of 0, 1, 2. The higher the score, the higher the overall risk of a client

• Based on the available client data, an AML officer must answer the AML Quiz questions. The score is calculated automatically

• Based on this score, an officer needs to assign a respective risk level and define the limits for this client

• If client's situation changes, limits and answers can be changed to new values