Recurring compliance (also known as periodic reassessment) means that Flexado reassesses existing clients at regular intervals to verify that their situation still meets AML (WWFT) requirements.
For example, at:
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Expired identity documents
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New UBOs or board members
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Change of business activities
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Signs of increased risk
The frequency of these checks is based on the risk profile of the client. High-risk clients are checked more frequently than low-risk clients.
Flexado is required to conduct continuous client research under the WWFT (articles 3 and 8). Thus, this duty applies not only at onboarding, but throughout the entire client relationship.
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