Overview
When your firm goes live with Risk Rules, it can start with a small set of out-of-the-box rules, drawn from what firms' risk policies most commonly require. You can tailor them to your own policy when we configure Risk Rules with you. This article explains the out-of-the-box rules and how each one is handled.
How a rule works
A Risk Rule does one of two things when it fires. It either flags an application for your team to review, or it follows up with your client to put something right, for example to re-upload a document.
The out-of-the-box rules
Flagged for your team to review
These highlight an application as a "consider" for your team. They involve no additional checks and are included as standard.
A politically exposed person (PEP) is identified.
A sanctions match is identified.
The client is based in a high-risk country.
Resolved automatically with your client
Where something needs putting right, we follow up with your client directly so your team does not have to. Each follow-up runs an additional check, as explained below.
An expired or out-of-date ID is uploaded: we ask the client for the correct ID.
The wrong type of document is uploaded, for example a utility bill instead of a passport: we ask for the correct ID.
An unsigned passport is uploaded: we ask for a signed passport.
The proof of address is more than three months old: we ask for a different proof of address.
How follow-ups are handled
⚠️ Good to know
Rules that simply flag an application for your team involve no additional checks and are included as standard.
When a rule follows up with your client to put something right, an additional check runs each time they resubmit, at your standard rates. You choose how many times we follow up before the application comes back to your team to review as a "consider".
Tailoring the rules to your firm
These are a starting point. When we configure Risk Rules with you, we map your own risk policy to the full set of available rules and agree exactly which to switch on, so the rules reflect how your firm assesses clients.
Important information
Flagging a PEP, sanctions match or high-risk country is included as standard.
You set the number of follow-ups on the rules that resolve with your client before an application comes back as a "consider".
You can add, remove or adjust any rule so the set matches your policy.
If you have any questions about your out-of-the-box rules, contact our Support team.