For every verification, bronID automatically calculates the IDV Risk (Identity Verification Risk). This indicator is derived from the information that is collected and processed by bronID. Please note that the IDV Risk is not the same as the Customer Risk or a substitute for it. The IDV Risk should enable you to make quick decisions by reviewing one indicator that summarises all the data points collected by bronID. You should always check the detailed verification results when making a decision about whether to onboard a customer or not.
The following data points are taken into account when calculating the IDV Risk of organisations:
- The jurisdiction of incorporation or establishment
- The jurisdiction of incorporation or establishment of all the entities in the ownership structure
- The jurisdiction that issued the identity documents used for ID verification of the UBOs
- The type of the organisation
- The complexity of the organisation (e.g. number of levels in the ownership structure)
- Indicators for obfuscation of ownership details (e.g. circular ownership)
- Findings about the owners or controllers of the entity
- Years of operation
- PEP screening results
- Sanctions screening results
- Other watchlists screening results
- Other parameters.
The IDV Risk Score can have the following values:
- Low
- Low Med
- Medium
- Med High
- High
