The office worker starts entering the contacts. A contact must be created for each party involved. This can either be a personal contact or an organization.
Per contact a first identification will take place. The contact is identified, the third party submitting the case (if applicable) is completed and a screening of the contact is carried out. Depending on the contact (personal or organization) and whether there is a third party submitting the case, more or less information needs to be entered here. Based on the screening, a level of vigilance is calculated for the first time. The office worker decides for himself whether he accepts or refuses the contact.
Subsequently, a risk profile must also be calculated for each contact. This can be done either as a buyer or as a seller. If a risk profile does not indicate an increased level of vigilance, you can accept or refuse the risk profile. If you accept the risk profile, this risk profile can be added to a transaction.
If a risk profile does indicate increased vigilance, a report will be sent to the AML officer. In the report, you motivate whether you wish to accept or reject this risk profile.
The AML officer must then decide whether to continue working with the contact, or if a report is made to the regulator. If a risk profile is reported to the regulator by the AML officer, the regulator must wait for a response.
When all contacts have been created and each contact has an accepted risk profile (buyer or seller), the transaction can be created. First the reference and the address of the transaction are filled in and all parties are added. Then the (rather financial) details of the transaction are entered. Finally, the details regarding the handling of the sale also need to be completed.
A level of vigilance is also calculated for the transaction. After the payment you will see the vigilance level of the transaction. If no increased level of vigilance is required, you can complete the transaction by accepting or rejecting the transaction. In case of increased vigilance, a notification will be sent to the AML officer. In the notification you motivate whether you wish to accept or refuse this transaction.
The AML officer must then decide whether the transaction can be accepted or if a report is made to the regulator. If a transaction is reported to the regulator by the AML officer, the regulator must wait for a response.