The AML tool will assist you in screening your clients and contract parties and will advise you on client acceptance.
Then you can also check the level of vigilance (risk profile) of your clients and contracting parties.
Finally, you will be able to bring together the parties involved in a transaction and calculate their level of vigilance (risk profile).
The advice is calculated using a "wizard" that asks you the necessary questions and gradually asks you to add the necessary supporting documents.
You will only see the applicable questions and you will notice that these mainly consist of tickable answers. In this way, you will be able to meet your obligations quite easily.
If the application advises you to be more vigilant, you can also immediately report the client, contracting party or transaction in question.
The AML Officer can evaluate each report from his/her office staff and whether or not to report it to the regulator.
A handy reporting page allows both the office worker and the AML officer to monitor the status of any reports.
All your activities in the AML tool can be consulted digitally and via a handy search function you will immediately find the right client, contracting party or transaction.
In order to comply with the necessary obligations, everything will also be kept for at least 10 years after the end of your relationship with the client or contracting party in question.