7.4.3 Closure Updates

After Risk Assessment, some risk assessments are eligible for Auto-Closure based on the following criteria:

• The User Review Flag of the risk category to which the risk score belongs is set to N.
• The High-Risk Watch List Flag of the Risk assessment is set to N.

The difference between the current risk score and a previous risk score is less than the value specified in the parameter KYC_CHG_IN_CUST_RSK_TOLERANCE.

For all the risk assessments that satisfy the above set of conditions, the records of the risk assessed customers in the KYC Master Customer Table (Fct_Cust_Rvwdtls), are updated with all the parameters pertaining to the risk score calculation. Subsequently, the records of all the accounts associated with the risk assessed customer are also updated with the risk scores. The threshold values for Auto-Closure can be altered by changing the value of the Application parameter mentioned above.