Operational Processes
What are 3 criteria that trigger a Low/Medium review?
What is
-Address in HR3C (Consumer address - residential and Business address - registered, trading, UBO/director, MUA, address.)
-LTV of Customer Transacting to HR3C (10K GBP for consumer and 50K GBP for business)
-No previous SMA Reviews
What key details should be reviewed when verifying a customer’s profile?
What are Name, Age, Address, Signup date, Phone number, Documents, IP Logins, Shared devices, Employer, and Occupation?
Where can the Use Case be found on Watson?
Under Evidences
When should an account be deactivated in relation to the Angolan Wave?
What is when IPs and/or Source of Wealth (SoW) documents show the customer is actually in Angola despite claiming a Portugal address?
What 3 criteria warrant an escalation to 2LOD?
Customer has a High AML Risk Level score
Customer has touchpoints (use case country under evidences tab, transfers from/to increased high country or potential residence, it can be only IPs for example) to Haiti and Mali
Customer is under EU license (address from EEA countries)
After completing a Low/Med review, what decisions can an SMA specialist make on the workflow ticket?
What are approving the customer or offboarding them?
Why might we force a POA?
What is because their ID, phone number, IP, device, or currency routes don’t align with the claimed country?
What are some indicators that a customer maybe using their Wise account for P2P?
-Abnormally high number of depositors and recipients from all over the world and have no apparent connection between one another
-Random amounts going through the account without much consistency across per payment values.
-High volumes going through the account in a short period of time
-Often some of the transfers have a reference similar to “crypto”; “btc”; “p2p”; “binance”; “trade”; etc – however many also use covers for payment refs such as “web design”; “services”; “for friend” etc.
-It is also common to have extensive involvement of MSBs (often lots of Wise accounts involved)
What are two strong indicators that a Portuguese address may be fraudulent?
What are shared pay-ins from deactivated Angolan cardholders and shared recipients with deactivated AML users?
What is the process SMA would use for escalating top the Fraud team?
What is the "Monitor“ button on the Ninjas?
What action should be considered if a customer shares a device with multiple accounts deactivated by AML?
What is offboarding the account as high risk?
What should you consider when reviewing an account that shares a residential address with a deactivated account associated with crypto trading?
Take note of shared residential addresses associated with deactivated accounts, but assess on a case-by-case basis. It may not necessarily raise a red flag, especially if there are no other similarities.
What are some Use Case red flags?
-Several back and forth movements between a balance and bank account
-Discrepancies between information on the account and transaction amounts
-Multiple large transfers from third parties, followed immediately by transfers to unrelated accounts
-Business transfers on a personal account, or vice versa
-The sensibility of volumes and/or frequency of transfers
What are key red flags in Brazilian card fraud cases?
-Mostly aged accounts of Brazilians, but newer accounts have also been appearing recently
-Spamming low value, high velocity transactions with numerous compromised cards.
-Source currency BRL, top up to EUR balance most common (BRL-EUR).
-Balance recipient
When would we escalate a case to HRA?
What is when the customer LTV is 500K GBP or more and we want to offboard.
Before offboarding a customer what should we ensure?
That the MCA is closed
And that the LTV isn't 500K GBP or more
How do you identify a Wise Platform Profile?
1. Look for a banner on top in Watson.
2. Check the email address, which may contain the name of the Wise platform partner.
3. Verify the partner name by hovering over the chain link icon next to the language flag in Watson.
4. Check for a partner tag under the Tags tab on ninjas.
5. Confirm the Wise service association by checking if the profile uses a Wise debit card or MCA.
6. Checking the transactions to see if they were initiated by the partner or Wise.com
After how many warnings would we offboard a customer who was using the personal account for business?
After 2 warnings
For the Thai romance scam, what was the commonly used occupation/explanation on the bank statement?
What is a hairdresser
When offboarding a case related to fraud concerns, what should you be careful to avoid?”
Avoid activating fraud monitoring for cases where the customer has no funds available and there is no refund involved.
What should be the focus when reviewing customer profiles for potential red flags or anomalies?"
When reviewing customer profiles, first consider the profile holistically, then focus on 12 months of past activity to take actions. Mention any red flags or anomalies in the past, but do not ask for documents or payments related to transfers that occurred more than 12 months ago.
What tools/resources do we use to get to know our customer?
Workflow, Watson, and online search
When would a freelancer be able to use their personal account for business?
When payments are from one company or freelance platform.
What are three key red flags for identifying an Algerian Wave case?
What are an Algerian ID and phone, no IP logins in France, and a suspicious SoW from Fiverr or Upwork?
How do we escalate to the AML team?
Filing a SAR