Verify and update a due diligence record

Steps

1. 1

   Select Verify / Edit on the customer's row

   On the CDD Records tab, find the corporate customer and select Verify / Edit at the end of its row. A window opens with the customer's name and type, the record's status, risk level, CDD type and dates, and a section for KYC documents.

   • Select Verify / Edit
2. 2

   Open Verification Status

   Open Verification Status. Pending means nothing has been checked yet. In Progress means checks have started. Verified means you have seen the documents and they are in order. Failed means the customer did not pass. Expired means the checks are out of date and must be repeated.

   • Select Pending
3. 3

   Choose Verified

   You have seen the trade licence and the manager's identity card, so choose Verified.

   • Choose Verified
4. 4

   Check the risk level, CDD type and review date

   Risk Level and CDD Type can be changed here when your view of the customer changes. Next Review Date can be moved. They are right for this customer, so leave them.

5. 5

   Leave Relationship end date empty

   Relationship end date is the day the customer stopped being a customer. Leave it empty while the relationship is ongoing. The line under it says how long identity documents are kept after that date. A later lesson uses this field.

   

6. 6

   Select Save

   Select Save. A message says CDD record updated. In the list, the status is now Verified and the Verified column shows today's date.

   • Select Save
7. 7

   Open the row to see who verified it

   Select the customer's row. Verified by now shows your name and the date, and Last updated by shows who last changed the record.

8. 8

   Update the record the app opened

   Now the new trade customer. Select Verify / Edit on its row. Its check was escalated and its trade licence has been asked for, so open Verification Status and choose In Progress.

   • Select Verify / Edit
   • Select Pending
   • Choose In Progress
9. 9

   Save the second record

   Select Save. Its row now shows In Progress. The app opened this record from a sale, so check Customer Name and Customer Type in the same window too: if the name was spelt differently on the sale, or the customer is a company rather than a person, correct it here.

   • Select Save
10. 10

    Read CDD Completion on the dashboard

    Select the Dashboard tab. Under Compliance Status, CDD Completion shows the share of records that are no longer pending. The counter at the top says how many are still pending verification.

    • Select Dashboard