Customer Risk Assessment

Customer risk assessment is the process of evaluating the potential risks associated with a customer based on their profile, behavior, and relationship with the organization. This assessment helps determine the level of due diligence required, such as standard or enhanced due diligence (EDD). Customer risk assessments involve analyzing factors such as transaction volume, location, and association with high-risk activities.

Regular customer risk assessments help organizations stay compliant with regulations and manage risks effectively.