This dynamic approach ensures precise and efficient verification while reducing friction for low-risk clients and enhancing controls for high-risk clients.
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Low-Risk Clients: :
- Minimal Requirements: Basic documents such as an ID (identity card or passport) and proof of residence (utility bill or bank statement) are requested.
- Processus simplifié : Vérification rapide avec un minimum d’interactions nécessaires pour compléter la vérification KYC.
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Medium-Risk Clients :
- Additional Documentation: Along with basic documents, additional proof may be required, such as recent bank statements, proof of income (payslips or tax returns), and a thorough background check.
- Increased Monitoring: More frequent periodic reviews to ensure information remains up-to-date and risks are properly managed.
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High-Risk Clients :
- Detailed Requirements: Detailed documents are requested, such as financial statements, asset declarations, contracts, bank reference letters, and other proof of fund sources.
- In-Depth Verification: Comprehensive verification processes, including individual interviews, background investigations, and continuous transaction monitoring.
- Frequent Updates: Regular requests for updated information to ensure continuous monitoring of the client’s activities.
Automating the Document Request Process:
Machine learning (ML) systems can automate document requests based on risk profiles. When a new client registers or an existing profile is updated, the system automatically generates a customized list of required documents.
Continuous Monitoring and Adjusting Requirements:
Risk profiles can evolve over time. ML systems can continuously monitor client activities and adjust document requirements accordingly. For example, if a client initially classified as low-risk begins exhibiting suspicious behavior, the system can request additional supporting documents