FAQ: How do I answer a product risk question that is not relevant for that product?

Applies to: AML Accelerate

Question

In the Product Risk section of the risk assessment, one of the products has a question which does not appear relevant for that product.

Example

Product: Home Loan/Mortgage

Product Question: Can the product allow transactions over the minimum amount or premium?

Tooltip: “This relates to non-lending products where someone can pay more than the scheduled amount due or investment and then request a refund. Access to funds that are paid above the minimum amount or premium increases the ML/TF risk.”  

Answer

Sets of product questions are shared amongst multiple products. When a question is not relevant to that product, the correct answer to that question is "No".

Using the example above, the question relates to non-lending products, therefore when the product is a lending product, such as Home Loan, you should select "No" as the answer.