What is a Periodic Risk Review (Franchisees)?
Periodic Risk Reviews
The Periodic Risk Review allows the Customer Risk Review (CRR) to review the KYC Data collected during the onboarding process and enable our merchants to update or correct this data. In other words, performing Periodic Risk Reviews allows us to remain compliant with international financial regulations and mitigate the risks inherent to any financial activity.
How can I help my franchisee with Periodic Risk Reviews?
Help your franchisees by communicating effectively to them the purpose of Periodic Risk Reviews.
Share with your franchisees:
- the type of information and documents needed by the CRR team to complete the periodic review
- timelines and deadlines for Periodic Risk Reviews
- potential consequences of non-completion of the Periodic Risk Reviews on time
Which documents are needed for Periodic Risk Reviews?
- Documents verifying legal entity information such as but not limited to Registration Extracts, VAT certificates, and TAX documents.
- Documents allowing the verification of ownership structure such as but not limited to organizational charts which outline the ownership structure of the entities under review and state the ultimate beneficial owners (UBO).
- Other documents such as questionnaires, allowing Adyen to understand our merchant’s business structure and internal KYC procedures.