Why do you need risk ratings for Reliance onboarding?
There are two main reasons why we ask for risk ratings on all customers. The first is that it shows that we are taking a risk based approach to customer due diligence and onboarding. This is a requirement under the 2017 Money Laundering Regulations in the UK. The second reason is that it helps us maintain visibility across our risk profile, helping us both to avoid major surprises in our relationship.
You can see how to submit risk ratings via API in our API reference linked here.
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