The SCOPE CDD Solution

Super-fast, safe and reliable CDD in compliance with the AMLD

The SCOPE CDD Cloud Solution

The European anti-money laundering directive (AMLD), and local implementations such as the Dutch Wwft, obligates certain entities to fulfill customer due diligence (CDD). It provides that obliged entities shall apply CDD requirements when entering into a business relationship. These organizations should assess the extent to which a customer exposes it to a range of risks. These risks include money laundering and terrorist financing. The SCOPE CDD Cloud solution helps you meet regulatory obligations, make informed decisions, and prevent your business being exposed to unnecessary risk.

The SCOPE CDD Cloud solution consists of various components, which can be used in a total integrated solution or as separate components such as the client risk assessment, country risk assessment, customizable components and the audit trail.

Client risk

With the SCOPE CDD Cloud solution clients can be screened and checked for high risk and red flags in order to identify potential risks. Clients can be screened for sanctions, PEP’s and negative presence in the media.

All this data is gathered from renowned, reliable and up to date sources.

A full list of the risk indicators and red flags:

  • Sanctions: Whether there are (or where previous) sanctions against this person or company
  • Politically exposed: Whether this person or company is considered politically exposed.
  • Financial Regulator: Whether this person or company is under financial regulation.
  • Disqualified director: Whether this person or company is/has a disqualified director.
  • Law enforcement: Whether this person or company is under law enforcement.
  • Adverse media: Whether there is adverse media associated with this person or company.

Country risk assessment

The SCOPE CDD Cloud solution assesses whether a person or company is in any way related to a high(er) risk country. A client can be related to countries in multiple ways: e.g. nationality, addresses, bank accounts and advisors. All related countries are checked against various risk indicators (e.g. FATF, CPI, FSI), ultimately resulting in a risk score per country.

Customizable components

For a complete risk assessment, the institution should look at characteristics of different types of customers, such as sectors or professions, products and ‘delivery channels’ (e.g. in person or otherwise, via intermediaries). Within the SCOPE CDD Cloud solution these variables can be mapped to a risk score. The weight assigned to each of these criteria in assessing the overall risk of money laundering and terrorist financing may vary from institution to institution and is therefore customizable.

Audit trial

All data and user actions are logged in a secure audit trail. This includes the outcome, performed checks, results per step, user and/or automated decisions, date, time and user. The SCOPE Cloud solution features a unique data model which allows you to look a client’s CDD assessment at any point in history.

Implementation

The SCOPE CDD Cloud solution can be implemented in multiple ways, from a total integration solution to an API based solution.

SCOPE KYC & CDD Cloud Solution

The SCOPE CDD solution will integrate seamlessly within the SCOPE KYC solution. This enables an organization to reuse and compliment the client data already present from the Know Your Customer (KYC) intake.

SCOPE CDD Cloud Solution – standalone version

The SCOPE CDD Cloud solution can also be used independently. All necessary data can be entered, either manually or through an import.

Seamless integration: SCOPE CDD Cloud API

It is possible to integrate the SCOPE CDD solution within an existing system. Data exchange and interaction with the CDD portal takes place through an API. The API makes it possible to complete actions in another system without leaving the preferred system. This enables a user to perform the CDD checks in an existing system (for example the preferred CRM software). Manual exceptions can be handled within the SCOPE CDD Cloud portal.

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