Customer risk assessment is a series of evaluations made when a new business relationship or transaction is to be initiated with the customer. It is a critical process for a more accurate analysis of the potential risks that the customer may create. In order to establish a general customer risk, the questions attached to the customer participation forms need to be answered. These questions should be informative about the risk situation of the customers.
According to Prevention of Money Laundering and Funding of Terrorism Regulation, “Risk factors include those relating to customers, countries or geographical areas, product, services, transactions, and delivery channels risk factors.”. Customer risk factors are as follows in general terms:
Customer risks are divided into four levels among themselves:
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