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 and should not be used as a substitute. It is intended to help you make quick decisions by reviewing a single indicator that summarises all the relevant data points. However, you should always review the detailed verification results before deciding whether to onboard an organisation.
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
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. sanctions match or complex ownership structure) appropriately elevates the overall risk rating, helping to flag verifications that require closer attention.
IDV Risk Score values:
- Low
- Low-Medium
- Medium
- Medium-High
- High
