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Setting up enhanced due diligence with conditional logic

Updated

Why use conditional logic for enhanced due diligence

Conditional logic can be used when setting up enhanced due diligence in a SmartFlow, using different risk factors as triggers for showing the enhanced due diligence in the SmartFlow.

Common risk factors that would trigger enhanced due diligence are:

  • Individuals that are PEP
  • Connections to risky third countries
  • The presence of a third party in the business transactions
  • Other high risk factors relating to the chosen services or other attributes

We recommend setting up a seperate form for the enhanced due diligence within the due diligence SmartFlow and configure conditional logic to show the form when any of the risk factors are triggered, such as when the signee indicates a connection to a risky third country or that a director or beneficial owner is a politically exposed person.

 

Setting up the SmartFlow

First start by creating the form for the enhanced due diligence questions by clicking the +form button.

Create the questions that fit your needs for enhanced due diligence, such as questions about the origin of wealth.

Create the conditional logic

Next go to the settings wheel in the enhanced due diligence form

Click on conditional logic

Click +add condition to create rules that once triggered, will show the form.

Example:

Here we have set the triggers as:

  1. If the signees citizenship is any country on the FATFs black and gray lists
  2. If the signees tax residency is any country on the FATFs black and gray lists
  3. If they are transacting on behalf of a third country
  4. If they, their close family member or close associate are politically exposed persons

If any of these conditions are triggered, the enhanced due diligence form will be shown to the signee, otherwise it will not be shown.

Editing the conditional logic

If at any point you need to edit the rules of the conditional logic, such as when the black and grey lists from the FATF are updated, you simply need to open the correct SmartFlow by clicking on it

Opening the correct form by clicking on it, here the Enhanced due diligence form

Clicking the settings wheel at the top

Click Conditional logic

And make any alterations neccessary. Remember to click save once the alterations are complete

Finally, publish the changes by clicking the button in the top right corner.

 

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