Ongoing monitoring is a term used often in the AML space, but it covers many different activities.

International standards set by the Financial Action Task Force (FATF) mandate that firms should “Conduct ongoing due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution’s knowledge of the customer, their business and risk profile, including, where necessary, the source of funds.”

Regional guidance for Australia, New Zealand and the United Kingdom specifies the ongoing monitoring of customer relationships, including transaction scrutiny and keeping customer due diligence (CDD) information updated.

Read the full blog here: 
https://www.jadethirdeye.com/resources/blog/customer-screening-what-does-good-look-like