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QUESTION

What is Standard Due Diligence?

ANSWER

Standard Due Diligence is applied to all transactions regardless of scoring or risk factor. Hence, if you want to conduct customer screening for all transactions, select that option under Standard Due Diligence.

RELATED QUESTIONS
What is Policy Enforcement?
Why do I need Policy Enforcement for my money exchange business?
Do I have to create a separate Policy Enforcement for each outlet?
What is Enhanced Due Diligence?
How do I set up my Risk Profile?
How do I set up my Risk Scoring system?
How do I assign scoring for each risk factor?
Can I flag transactions and apply policy enforcement actions without risk scoring?
What if I do not wish to assign a score to some factors that are not important to my business?
When should I apply the actions Flag as Low, Flag as Medium and Flag as High?
What if I do not want to set a max limit on transaction amounts?
What does the column Highlight Warning under Transaction Details and Customer Details mean?
What countries fall under Foreign High Risk for Nationality under Customer Details?
How do I set up Enforcement actions?
How does the Policy Enforcement apply to transactions?
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