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Learn how to set-up and use Biz4x more effectively with byte-sized how-to articles.

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Customer Screening

What is anti-money laundering?

What is a sanctions list?

What is the Countering/Combating the Financing of Terrorism Act?

What is a Politically Exposed Person?

What is the Financial Action Task Force?

What is the SDN list?

What is the US OFAC?

When do money changers have to conduct mandatory KYC checks?

How do I screen my customers?

How do I narrow down the search results of a customer screening if there are many similar names?

What is the difference between exact and broad search?

How do I access or download a list of past searches?

Policy Enforcement

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 Standard Due Diligence?

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?

KYC Repository

How do I upload documents into the KYC Repository?