IBAN and name matching
Registry records must match transaction beneficiary name and banking coordinates.
What each discipline means in Varqus
| Discipline | Applies to | Trigger examples | Outcome |
|---|---|---|---|
| KYB | Customer companies of the client company. | Incoming payment from unknown company, cross-border customer onboarding. | Customer is verified, scored, and registered for monitoring. |
| KYS | Supplier companies of the client company. | Outgoing payment to unknown vendor, new supplier IBAN appears in flows. | Supplier is verified, scored, and registered for monitoring. |
| KYC | Connected individuals: UBOs, directors, shareholders, signatories. | Payment to an individual outside HR or governance-role change signal. | Individual is verified and linked to relationship rationale. |
| KYA | Applicants and staff in HR scope. | Payroll and HR onboarding flows. | HR governance records stay current without private investigation scope. |
Incoming payments from private individuals are not processed as KYB. Outgoing to individuals outside HR triggers KYC rationale review.
Core controls that make the framework operational
High-value transfer trigger
Any single transfer above 2000 EUR is flagged for structured review.
Concentration and dependency
Yearly inflow and outflow exposure are monitored to detect structural fragility.
EDD recommendation rule (yearly)
- Calendar year runs from 01 January to 31 December.
- Per-counterparty inflow and outflow totals are aggregated.
- Above 20 percent concentration, Varqus recommends enhanced due diligence.
Expiry rule
- Every completed case expires 12 months after last completed review.
- Expired cases require refresh before normal workflow continuation.
- Expiry discipline keeps controls operational, not symbolic.