Monitoring by Primary Customer
A customer may have several accounts, on some they may be the primary customer while not on another. Now Customer-focused scenarios can be configured using the Primary Customer Flag to monitor all accounts associated to the same primary customer or to monitor all accounts associated to the same customer with roles having discretionary authority.
The following scenarios were updated:
- High Risk Transactions: Focal High Risk Entity - Customer Focus
- High Risk Transactions: High Risk Counter Party - Customer Focus
- Rapid Movement of Funds – All Activity Customer Focus
- Large Reportable Transactions - Customer Focus
- Single or Multiple Cash Transactions: Possible Currency Transaction Report - Customer Focus
- Single or Multiple Cash Transactions: Large Significant Transactions - Customer Focus
- Structuring - Deposits Withdrawals of Mixed Monetary Instruments- Customer Focus
- Structuring - Avoidance of Reporting Thresholds - Customer Focus
- Structuring - Potential Structuring in Cash and Equivalents - Customer Focus
Monitoring by primary customer helps provide more meaningful alerts.
Steps to Enable
You don't need to do anything to enable this feature.