Periodic KYC Review

Learn how to track and manage periodic KYC reviews for client Profiles in Trustform.

Overview

Trustform helps ensure that scheduled periodic KYC reviews are completed on time and are not missed. The system supports timely collection of updated information and helps keep client Profiles up to date from a compliance perspective.

Review notifications and status

Trustform notifies the Account Managers assigned to a Profile when a KYC review is approaching, due, or overdue.

Notifications are sent:

• one month before the scheduled review date;

• on the review date;

• after the review date, if the review becomes overdue.

The next KYC review date is visually displayed in the interface:

• review dates that are one month away are highlighted in yellow;

• overdue review dates are highlighted in red and show the time elapsed since the review date was reached.

Performing a periodic KYC review

1

Sending a Profile for review

An Account Manager can initiate the review by clicking Send and selecting the Compliance Officer to whom the Profile should be assigned. This step is optional — a Compliance Officer can start the review without the Profile being sent by an Account Manager.

2

Reviewing changes

As part of the review, the Compliance Officer should check whether any changes have occurred in the client Profile and make updated decisions where required.

The Tasks panel supports this process by grouping all actions that need to be completed during the KYC review.

3

Requesting additional information (optional)

If additional information or documents are required during a periodic KYC review, a request can be created using Case Management.

For this purpose, a dedicated case type for periodic KYC review updates is available. It allows Account Managers and Compliance Officers to request additional information from the client, track the status of the request, and easily locate these cases in the client case list using filters.

4

Completing the review

Once the periodic KYC review is complete, the Compliance Officer should finalise the review in the system by:

• setting the Last Review Date;

• defining the Next Review Date using the available standard intervals (3 or 6 months, 1 or 2 years);

• updating the account status and risk level, if required.

This records the outcome of the review and ensures that the next periodic KYC review is scheduled.