The Wwft checklist module supports you in the Wwft process. Instead of keeping lists in Excel or Word, you follow the process in Tribe CRM. As a result, reports can easily be compiled based on your requirements. Providing the necessary evidence during an audit also becomes super easy using the Wwft checklist.
- What is the Wwft?
- The Wwft process in Tribe CRM.
1. What is the Wwft?
Wwft stands for Money Laundering and Terrorism Prevention Act. The Wwft applies to anyone dealing with money flows or the purchase and sale of expensive goods. For example, banks, brokers, notaries, tax consultants and lawyers. And people who mediate in the purchase and sale of, for example, vehicles, art objects and jewellery. The Wwft requires you to conduct risk-based client due diligence and report unusual transactions.
2. The Wwft process in Tribe CRM
The process is Tribe is risk-based set up based on the Wwft activity. This activity creates a risk profile of the client based on the data entered in the activity. The different risk profiles ensure that certain fields are/are not shown in the activity. This allows the user to enter the correct information to the fields that are necessary depending on the risk profile.
Note: For the process to work correctly, we use a number of standard automations. After activating the Wwft checklist module, these automations will be added to your environment, but are not yet activated. Do you want to test your Wwft checklist? Then activate the automation first by navigating in the configuration to the Wwft activity and then the automations tab.
Which data is necessary to enter (and thus displaying the necessary fields) is related to the risk profile, the type of client investigation and the type of client. The table below shows the different values.
|Types of customer due diligence
|Types of client
|legal entity within NL
|legal entity outside the NL
To get a better idea of the process set up, we have described the broad outlines in the process diagram, which is attached at the bottom of this article.
Further use of the Wwft activity, functions the same as all other activities in Tribe CRM. Such as adding notes, attachments, emails, tasks, etc. More information on using activities can be found in the article how do I create an activity?
On the Wwft checklist dashboard, you will also find a number of standard widgets. You can further expand this dashboard with the necessary widgets for your own reports and the audit.