Collect customer's basic identification information
3
Verify customer's Identity using documents
4
Review identity documents for authenticity
5
Approval: Document Authenticity
6
Capture the customer's biometric information
7
Collect additional information for risk assessment
8
Fetch and review customer's past financial activity
9
Approval: Financial Activity
10
Confirm customer's residential address
11
Verify customer's contact information
12
Cross-check collected information with national and international watch-lists
13
Carry out risk assessment based on the collected information
14
Approval: Risk Assessment
15
Determine the level of Customer Due Diligence (CDD) required
16
Perform Customer Due Diligence (CDD)
17
Approval: CDD Performance
Identify the customer
This task is the first step in the Customer Identification Program. Its role is to identify the potential customer and gather basic information about them. The desired result is to have a clear understanding of who the customer is and their initial details. Are you ready to start identifying the customer?
1
Individual
2
Business
Collect customer's basic identification information
In this task, we will collect the basic identification information of the customer. This information is crucial for further verification and risk assessment. It includes details like their address, contact information, and occupation. Let's gather these essential details to proceed smoothly in the process.
1
Employed
2
Self-employed
3
Unemployed
Verify customer's Identity using documents
To ensure the authenticity of the customer's identity, we will need to verify their identity using valid documents. This step is crucial to ensure compliance with regulations and minimize the risk of fraud or misrepresentation. Let's start the verification process by requesting the necessary identification documents.
1
Passport
2
Driver's License
3
National ID Card
4
Social Security Number Card
5
Voter ID Card
Review identity documents for authenticity
In this task, we will review the identification documents provided by the customer. This step is critical to confirm the authenticity of the documents and detect any signs of forgery or tampering. Let's carefully examine the documents and ensure they meet the required standards for verification.
Approval: Document Authenticity
Will be submitted for approval:
Review identity documents for authenticity
Will be submitted
Capture the customer's biometric information
Biometric information adds an extra layer of security and accuracy to the customer identification process. In this task, we will capture the customer's biometric data, such as fingerprints or facial recognition, to enhance the verification process. Let's proceed with capturing the biometric information.
Collect additional information for risk assessment
To conduct a thorough risk assessment, we need to gather additional information about the customer. This includes their financial history, source of income, and any potential political exposure. Let's gather these details to assess the level of risk associated with the customer.
Fetch and review customer's past financial activity
In this task, we will fetch and review the customer's past financial activity. Understanding their financial behavior and transactions helps us assess their credibility and potential risks. Let's retrieve the necessary financial information and examine it carefully.
Approval: Financial Activity
Will be submitted for approval:
Fetch and review customer's past financial activity
Will be submitted
Confirm customer's residential address
Ensuring the accuracy of the customer's residential address is essential for proper identification and correspondence. In this task, we will confirm the customer's address through various means. Let's proceed with confirming the residential address.
1
Utility Bill Verification
2
Postal Mail Verification
3
Phone Call Verification
Verify customer's contact information
Contact information verification is crucial to maintain effective communication with the customer. In this task, we will validate the provided contact information, such as phone number and email address, to ensure its accuracy. Let's proceed with verifying the customer's contact details.
Cross-check collected information with national and international watch-lists
To comply with regulations and mitigate the risk of engaging with customers involved in illegal activities, we need to cross-check the collected information with national and international watch-lists. Let's carry out this important due diligence step to ensure compliance and risk mitigation.
Carry out risk assessment based on the collected information
Based on the collected information and the risk assessment framework, we will evaluate the potential risks associated with the customer. This step allows us to determine the level of Customer Due Diligence (CDD) required for the customer. Let's assess the risks and proceed with the next steps accordingly.
1
Low
2
Medium
3
High
Approval: Risk Assessment
Will be submitted for approval:
Carry out risk assessment based on the collected information
Will be submitted
Determine the level of Customer Due Diligence (CDD) required
Based on the risk assessment, we will determine the level of Customer Due Diligence (CDD) required for the customer. This step helps us ensure that the appropriate measures are taken to verify the customer's identity and assess their risk. Let's determine the CDD level for the customer.
1
Basic
2
Simplified
3
Enhanced
Perform Customer Due Diligence (CDD)
In this task, we will perform the Customer Due Diligence (CDD) procedures based on the determined CDD level. This step involves thorough verification and assessment to ensure compliance and minimize risks. Let's proceed with the necessary CDD procedures.
