18. Credit and financial institutions should monitor the remote customer onboarding solution on an …

Credit and financial institutions should monitor the remote customer onboarding solution on an ongoing basis to ensure that it operates in line with the credit and financial institutions expectations. They should complement their policies and procedures described in paragraph 9 with a description of at least:

• a) the steps they will take to be satisfied of the ongoing quality, completeness, accuracy and adequacy of data collected during the remote customer onboarding process, which should be commensurate to the ML/TF risks to which the credit and financial institution is exposed to;
• b) the scope and frequency of such regular reviews; and
• c) the circumstances that will trigger ad hoc reviews, which should include at least:
• a. changes to the ML/TF risk exposure of the credit and financial institution;
• b. deficiencies on the functioning of the solution detected in the course of monitoring, audit or supervisory activities;
• c. A perceived increase in fraud attempts;
• d. changes to the legal or regulatory framework.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA -

  EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

  DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.