A few settings control how Customer Due Diligence (CDD) works for your business. Set them up once and every new case will use them.
Why set it up first
CDD turns on automatically. Once your designated services are marked, any proposal that includes one adds the CDD step for you.
Approvals go to the right person. Your AML Officer is preselected as the approver on every medium or high risk case.
Reviews are scheduled for you. Renewal periods decide when each client's AML check is next due, based on their risk.
Step 1: Mark your designated services
Mark every service your AML rules apply to. OnboardMe calls these designated services in every country.
Country | What to mark | Examples for accountants |
|---|---|---|
Australia | Designated services under the AML/CTF Act | Setting up companies and trusts, acting as or arranging a nominee director or shareholder, handling client money, buying or selling businesses or real estate for a client |
New Zealand | Captured activities under the AML/CFT Act | Forming legal persons or arrangements, acting as or arranging a nominee director, shareholder or trustee, managing client funds |
United Kingdom | Services regulated under the Money Laundering Regulations 2017 | Accountancy and tax advice, company formation and other trust or company services |
South Africa | Activities that make you an accountable institution under the FIC Act | Trust and company services such as forming companies and trusts, or acting as a director, trustee or nominee |
Important: These examples are a guide only. Check your regulator's or supervisor's guidance for the full list. See CDD by country.
Go to Templates → Proposals → Services & Packages.
Open a service.
Turn on Designated Service.
Save the service.
To update several services at once, use Bulk manage services and the Designated on or Designated off buttons. The services list shows a Designated column so you can check them at a glance.
When a designated service is added to a proposal, OnboardMe turns on the Customer Due Diligence step and shows a notice: "Customer Due Diligence step enabled".
Note: The CDD step on proposals is available when your business industry is set to accounting or bookkeeping. CDD cases can still be created from the Identity & AML page and the client record for any business.
Tip: On a client record, the Designated services switch ("You provide designated services to this client") marks the client for AML. It doesn't create a CDD case by itself.
Step 2: Choose your AML Officer and renewal periods
Go to Settings → Business.
Open the System Settings tab.
Scroll to AML / Customer Due Diligence.
Set the fields below, then save.
Setting | What it does |
|---|---|
AML Officer | Preselected as the nominated approver on CDD cases that need approval |
Default risk rating | Applied to new clients when they are registered for AML, until a risk profile is returned |
Monthly AML renewal email | On the 1st of each month, emails the AML Officer a list of clients whose AML check is due the following month |
Low risk renewal (months) | How long until a low risk client is due for review. Default 36 |
Medium risk renewal (months) | Default 24 |
High risk renewal (months) | Default 12 |
Renewal months must be between 1 and 120, and must follow the order Low, then Medium, then High (Low is the longest).
Note: Only Owners and Admins can change these settings.
Step 3: Check your checklists
OnboardMe supplies a standard checklist for each client type in Australia, New Zealand, the UK and South Africa. You'll only see the checklists for your own country. You can use them as they are, or change the wording, add questions and adjust risk thresholds. See Customising CDD checklists.
Next steps
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