For every verification, bronID automatically calculates the IDV Risk (Identity Verification Risk). This score is derived from the information collected and processed by bronID during the verification process.
Please note that the IDV Risk is not the same as Customer Risk, nor should it be used as a substitute. The purpose of the IDV Risk is to help you make quick, informed decisions based on a single indicator that summarises all the relevant data points collected by bronID. However, you should always review the full verification details before deciding whether to onboard a customer.
How the IDV Risk Score is determined
The final IDV Risk Score represents the maximum risk level observed across all the individual parameters assessed. This approach ensures that even a single high-risk indicator (e.g. a sanctions match, a high-risk jurisdiction, or a complex ownership structure) appropriately elevates the overall risk rating, helping to flag verifications that require closer attention.
IDV Risk Score values
The risk score can take one of the following values:
- Low
- Low-Medium
- Medium
- Medium-High
- High
IDV Risk for Individuals (KYC)
The IDV Risk for individuals is based on the following factors:
- Country of residence
- Jurisdiction of the identity document issuer
- PEP (Politically Exposed Person) screening results
- Sanctions screening results
- Watchlist screening results
- Other relevant parameters
KYC – Default Risk Parameters
DV Risk for Organisations (KYB)
The IDV Risk for organisations is based on the following factors:
- Jurisdiction of incorporation or establishment
- Jurisdiction of all entities in the ownership structure
- Jurisdiction that issued identity documents for UBOs
- Type of organisation
- Complexity of the organisation (e.g. number of ownership levels)
- Indicators of ownership obfuscation (e.g. circular ownership)
- Adverse findings related to owners or controllers
- Years of operation
- PEP screening results
- Sanctions screening results
- Watchlist screening results
- Other relevant parameters
KYB – Default Risk Parameters
