Updates in your KYC Toolbox from 24.11.2020
COUNTRY RISK UPDATES WILL BE COMMUNICATED VIA E-MAIL
NEW We would like to inform you about our extended service for the country risk list.
The KYC Toolbox has been providing an overview of country risks for some time already. The country risk table will be updated quarterly, based on various official sources. To ensure that you are even better informed about the latest risk assessment of the various countries, we will also communicate the updates by e-mail going forward.
As part of the latest update, the list was revised and recently added to the Toolbox. It now also contains a risk assessment for virtual assets. In addition, the CPI value, which is important for the assessment of corruption risks, was updated. The following assessment criteria now apply:
- High Risk: 0 - 29
- Medium Risk: 30 - 69
- Low Risk: > 70
Countries with CPI Index 30-69 are now also classified as High Risk if
- UN/EU/US/CH Sectorial/Smart Sanctions apply
- have an on-going monitoring procedure pending from the FATF
- and/or listed by the office of National Drug Control Policy (USA) on the Major Illicit Drug Producing and Transit List
A rating is only given if at least three different information sources are available.
The above-mentioned changes have led to a re-rating of various countries.
COUNTRY RISK INDEX
Click here for the complete Country Risk Index
NEW With the delivery of an additional SMS code, the toolbox offers a 2-factor authentication for the Onboarding Chatbot and the Upload Service. Until now, the SMS code was delivered at the same time as the email was sent.
Now customers can request the code independently on the respective login page. With the button "Request" the SMS code is sent to the customer, which must then be entered in the field provided. Confirm the Code with “Submit”.
This adjustment has already been activated in the Toolbox, so that no separate interruption is to be expected.