When there is no outstanding PEP report, you can risk assess your customer and select the appropriate Risk category.
The process for risk assessing individuals and legal entities is the same.
If the customer is due for risk assessment, the Next action area will show the "Risk Assess" button. If it's not formally due for re-assessment you can still re-assess the risk by clicking the pencil icon in the Risk level box in the second row.
To assess the risk for each customer we recommend reviewing their due diligence form, which you can view in the AML box in the second row as well as any PEP reports or other data you may have on the customer.
Once you have determined which risk category the customer falls into, you can document it by clicking the Risk Assess button, selecting the appropriate risk category and note your reasoning for categorising the customer in that risk category.
Once the risk category has been selected and saved the Risk level box will show the selected risk category and the Dates box will show the date of the last risk assessment and the date that the risk assessment expires (based on your risk assessment intervals for each risk category).
The risk category and dates will also be shown on the list overview page.
30 days before that expiry date, the customer will be marked as expiring soon on the overview page and will appear higher in the list view.
When the risk assessment has expired the customer will be marked in red indicating that the risk assessment has expired. In such cases we advise reviewing if the customer is still an active customer, if so he should be reassessed but if not, he should be off-boarded to filter him from the list.