What is meant by an Event Driven Review in the context of Anti-Money Laundering (AML)?
Event driven reviews are based on changes to the customer profile that warrant a fresh compliance process. If the changes are substantially material, it may change the level of risk associated with the customer profile.<br/><br/>
Event driven reviews can be captured through ongoing monitoring of a client relationship and could be highlighted through a change in ownership of the account or a suspicion raised by customer facing staff. They are also highlighted through transaction monitoring where the customer changes their payment volumes, or destination to a high risk jurisdiction.