But, Do You ‘Really' Know Your Customer?

In this fourth article in this series, we will be looking at the principles behind a customer risk assessment and certain key considerations to be borne in mind when developing a robust customer risk assessment.

In a perfect world, every organisation would hope that their customer is ideal for their business, in practice, however,  this may not always be the case; by carrying out a customer risk assessment the organisation are ensuring that a robust customer risk profile has been drawn up and that sufficient information is gathered on that particular customer.  This will give the organisation a better understanding of potential risks posed by the customer prior to on-boarding to ascertain whether the customer falls within its risk appetite.