There are three levels of client verification able to be undertaken using the First AML platform. These are standard, enhanced, and simplified. The level of verification to be undertaken is instructed at the time of creating a case (see Creating a case), and can subsequently be changed either manually via the AML Profile tab (see AML Profile tab) or as a result of an Automated Trigger (see Automated triggers).
The level of verification undertaken in respect of a client should be determined by the level of risk identified by your risk assessment. The information collected by the platform will depend on the level of verification being conducted and the type of client being verified.
The following sections provide a high-level overview of factors which may be present (as identified in your risk assessment) and which may influence your decision as to which level of verification to undertake via the platform: