SUPPORT

Need help with Compliance?

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

{{$item.name}}

search result for

{{key.name}}

{{item.question}}

{{item.answer}}

QUESTION

When should I apply the actions Flag as Low, Flag as Medium and Flag as High?

ANSWER

If you want to know if any particular risk factor is present, you can assign a flag category to it, so that it will appear in the notifications in red at the point when you are recording transactions. No enforcement action will be taken, this is meant merely as an alert.

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 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?

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?