How do I screen my customers?
Regulators in different countries mandate that money service businesses conduct a Know Your Customer check on any individual that wishes to exchange currency beyond a certain amount. This amount differs from country to country. While you can conduct the compliance check as you are saving a transaction, customer screening can also be done in its own separate module in Biz4x. To increase the accuracy of your search, you can opt for exact matches to increase keyword sensitivity. You can also choose to only search within certain lists, or search by a person's date of birth, identification number or country to narrow down the results.
Once you have begun the search, you will see that the system provides a percentage match scoring to help you better assess the risk of different individuals. In the example below, the keyword Barack Obama has a 100% match under type Political Individual.
Clicking on that particular search result will reveal further details as to why Barack Obama has been listed in the results (previous US president).