Merchant Lifecycle Quiz
Test your understanding of ongoing monitoring, re-verification, enhanced due diligence, and merchant lifecycle management.
Ongoing Monitoring & Re-verification
Question 28
How often should KYC/KYB information be re-verified? What events trigger immediate re-verification?
View Answer
Re-Verification Frequency by Risk Level:
| Risk Level | Traditional Schedule | Event-Driven | Perpetual KYC |
|---|---|---|---|
| Low Risk | Every 3-5 years | Trigger-based only | Continuous data feeds |
| Medium Risk | Annually | Annual + triggers | Continuous + annual cert |
| High Risk | Quarterly/Continuous | Continuous | Real-time feeds + quarterly review |
| PEPs | Continuous | Continuous | Real-time sanctions + adverse media |
| High-Volume (>$10M) | Annually | Semi-annual + triggers | Continuous + semi-annual audit |
Risk Level Factors:
- Transaction volume and average ticket
- Industry (high-risk vs low-risk MCC)
- Geographic exposure (cross-border, sanctioned regions)
- Chargeback/fraud history
- Business longevity and credit history
- Beneficial owner profiles (PEPs, sanctions, criminal records)
Immediate Re-Verification Triggers:
| # | Trigger | Example |
|---|---|---|
| 1 | Ownership Change | >25% beneficial ownership transfer |
| 2 | Adverse Media | Negative news (fraud allegations, lawsuits, regulatory actions) |
| 3 | Sanctions Match | Owner appears on OFAC/UN/EU sanctions lists |
| 4 | Credit Deterioration | Bankruptcy, judgments, liens filed |
| 5 | Regulatory Action | FTC complaint, state AG investigation, license suspension |
| 6 | Business Model Change | Shift to different MCC, product offerings, fulfillment |
| 7 | Volume Spike | >50% increase above underwriting projections |
| 8 | Network Monitoring | Placement in VAMP, ECM, or EFM programs |
| 9 | Chargeback/Fraud Spike | Ratios exceed internal thresholds |
| 10 | Address Change | New physical location or registered agent |
Best Practice: Implement perpetual KYC using continuous data feeds (corporate registries, sanctions lists, adverse media) to detect changes in real-time rather than waiting for scheduled reviews.
Regulatory Framework:
| Regulation | Requirement | Frequency |
|---|---|---|
| BSA/AML | Customer due diligence (CDD) and ongoing monitoring | Continuous |
| USA PATRIOT Act § 326 | Customer Identification Program (CIP) verification | Initial + triggers |
| FinCEN CDD Rule | Beneficial ownership verification | Initial + material changes |
| OFAC | Sanctions screening | Continuous (daily/real-time) |
| PCI DSS 4.0 | Quarterly scans, annual assessment | Quarterly/Annual |
| Card Network Rules | Fraud/chargeback monitoring (VAMP, ECM, EFM) | Monthly |
Why This Matters: Risk is dynamic—a merchant approved today may become risky tomorrow. Continuous monitoring ensures emerging risks are detected before they cause significant damage to the portfolio.
Related Topic: Ongoing Monitoring - See "Periodic KYC/KYB Refresh" section
Question 29
A merchant notifies you of a business address change. Walk through the steps to verify and update this information. What risk factors do you assess?
View Answer
Address Change Verification Process:
Step 1: Receive Notification
- Merchant self-reports via portal, email, or phone
- OR detected through automated monitoring (USPS NCOA, corporate registry updates)
Step 2: Request Documentation
- Updated business license or certificate of good standing showing new address
- Utility bill (electric, water, gas) at new address
- Lease agreement or property deed
- Secretary of State filing confirmation (if registered agent changed)
Step 3: Verify New Location
| Check | Method | What to Look For |
|---|---|---|
| Physical Verification | Google Street View or site visit | Business operates at stated address |
| Zoning Check | Local records | Address zoned for business operations |
| Geographic Risk | Internal analysis | High-fraud region or sanctioned area? |
| Landlord Verification | Contact property owner | Confirm business operates there |
Step 4: Re-Screen
- OFAC Sanctions: New address in sanctioned country/region?
- State Licensing: Does new state require additional licenses (sales tax, money transmission)?
- Network Rules: Cross-border implications (domestic → international)?
Step 5: Assess Risk Factors
| Risk Factor | Low Risk Example | High Risk Example |
|---|---|---|
| Location Type | Commercial office space | Virtual office/mail drop |
| Geographic Region | Same city/state | Moved to high-fraud state/country |
| Timing | Gradual relocation (30+ days notice) | Sudden/immediate move |
| Business Model Fit | Retail store to larger retail space | E-commerce to residential address |
| Historical Behavior | First move in 5 years | Third move in 12 months |
| Performance | Low chargebacks, stable volume | Recent chargeback spike |
Step 6: Update Records
- Merchant profile in payment platform
- Merchant agreement (if address is contractual term)
- Bank account verification (if settlement bank changed due to relocation)
- Tax jurisdiction (sales tax, state income tax)
Step 7: Communicate
- Confirm address update to merchant
- Notify relevant parties (sponsor bank if PayFac, acquirer if ISO)
Step 8: Enhanced Monitoring (if Risk Detected)
- If high-risk move (e.g., virtual office, high-fraud region), activate enhanced transaction monitoring for 90 days
- Lower velocity limits temporarily
- Increase manual review thresholds
Red Flags Requiring EDD or Suspension:
- Address is mail drop/UPS Store/virtual office (not valid for most business types)
- New address in sanctioned country (OFAC violation)
- Merchant has multiple rapid address changes (potential fraud)
- Cannot verify physical business presence at new location
- Address change coincides with other red flags (ownership change, volume spike, chargeback increase)
Why This Matters: Address changes are often legitimate business operations, but they can also be indicators of fraud or merchant distress. Systematic verification protects against both.
Related Topic: Ongoing Monitoring - See "Business Change Monitoring" section
Question 30
A merchant's chargeback ratio increases from 0.3% to 1.8% over two months. Detail the re-underwriting process and factors you evaluate.
View Answer
Re-Underwriting Process for Elevated Chargeback Ratio:
Step 1: Immediate Actions
- Alert Triggered: Merchant exceeds 1.5% chargeback ratio (ECM threshold)
- Contact Merchant: Notify within 24-48 hours of detection
- Implement Temporary Controls:
- Reduce daily processing limit (e.g., $50K → $20K)
- Increase rolling reserve (5% → 15-20%)
- Switch to daily settlement (instead of T+2)
- Flag high-ticket transactions for manual review
Step 2: Root Cause Analysis
Chargeback Reason Code Breakdown:
| Reason Code Category | Typical % | Root Cause |
|---|---|---|
| Fraud (10.4, 4837) | 60% | Card testing, account takeover, stolen cards |
| Product Not Received (13.1, 4855) | 25% | Shipping delays, tracking issues, fulfillment problems |
| Product Unsatisfactory (13.3, 4853) | 10% | Quality issues, misleading descriptions |
| Duplicate Processing (12.6, 4834) | 3% | Technical error, duplicate submission |
| Cancelled Recurring (13.2, 4841) | 2% | Subscription billing after cancellation |
Step 3: Investigate Business Changes
- Volume Spike? Rapid growth attracts more fraud
- Product Changes? New products with higher return rates
- Marketing Changes? New ad campaigns attracting different customer base
- Fulfillment Changes? Switched to slower shipping method
- Website Changes? Unclear refund policy, misleading product descriptions
- Ownership/Staff Changes? New management unfamiliar with fraud prevention
Step 4: Request Re-Underwriting Documentation
Required Documents:
-
Chargeback Analysis:
- Breakdown by reason code
- Merchant's explanation for increase
- Remediation plan (specific actions, timeline)
-
Business Operations:
- Last 3 months bank statements (verify volume, refunds)
- Shipping/fulfillment records (tracking, delivery times)
- Refund policy (website screenshots, terms of service)
- Customer service records (complaints, resolution times)
-
Financial Health:
- Updated business credit report
- Updated personal credit report (beneficial owners)
- Financial statements (if available)
-
Fraud Prevention Measures:
- Current fraud tools in use (AVS, CVV, 3DS, fraud scoring)
- Internal fraud policies and training
- Willingness to implement additional tools
Step 5: Evaluate Re-Underwriting Factors
Favorable Factors (May Continue with Conditions):
- Chargeback increase is recent (last 2 months) and identified early
- Merchant is cooperative, provides clear explanation
- Root cause is fixable (e.g., shipping delays now resolved)
- Merchant agrees to implement fraud tools (3DS, Kount, stricter AVS/CVV)
- Financial health remains strong (good credit, profitable)
- Prior history was excellent (0.3% chargeback ratio for 12+ months)
Unfavorable Factors (Likely Termination):
- Chargebacks are fraud-related (10.4, 4837) indicating compromised security
- Merchant is unresponsive or dismissive
- Root cause is unfixable (business model fundamentally flawed)
- Merchant refuses to implement fraud prevention
- Credit deterioration (personal/business bankruptcy, judgments)
- Pattern of prior issues (this is third chargeback spike)
Step 6: Decision Matrix
| Chargeback Ratio | Trend | Cooperation | Decision |
|---|---|---|---|
| 1.5-2.0% | Stabilizing/Declining | Excellent | Conditional Approval: Increase reserves, implement fraud tools, 90-day probation |
| 1.5-2.0% | Increasing | Poor | Suspend: Pending investigation/remediation |
| 2.0-3.0% | Any | Excellent | Suspend: Only resume if ratio drops below 1.0% within 60 days |
| 2.0-3.0% | Any | Poor | Terminate: Unacceptable risk |
| >3.0% | Any | Any | Immediate Termination: HECM threshold, portfolio risk |
Step 7: Implementation (Conditional Approval Example)
Updated Terms:
- Rolling Reserve: Increase from 5% to 20% for 90 days
- Daily Limit: Reduce from $50K to $30K until chargeback ratio <1.0%
- Settlement: Daily (instead of T+2) to reduce exposure
- Fraud Tools: Mandatory 3DS for transactions >$100 or international cards
- Monitoring: Weekly chargeback ratio review (instead of monthly)
- Probation: 90 days to demonstrate improvement
Step 8: Ongoing Monitoring
- Weekly Reports: Chargeback ratio, volume, transaction patterns
- 60-Day Review: Assess progress
- Success (ratio <1.0%): Gradually relax controls
- Failure (ratio >1.5%): Proceed to termination
- 90-Day Review: Final assessment
Network Consequences at 1.8%:
- Visa VAMP: Merchant is in "excessive" territory (>1.5%)
- Mastercard ECM: At 1.8%, qualifies for ECM program
- Consequences: Monthly fines, required remediation, potential MATCH listing
Why This Matters: Chargeback spikes require immediate action. Waiting increases financial exposure, risks network penalties, and can jeopardize the entire portfolio if not addressed quickly.
Related Topics:
- Ongoing Monitoring - See "Network Monitoring Programs" section
- Risk Factors - Chargeback risk indicators
Question 31
What is Enhanced Due Diligence (EDD)? List 10 specific scenarios that would trigger EDD for a merchant.
View Answer
Enhanced Due Diligence (EDD) Definition:
EDD is an intensive investigation process applied to merchants exhibiting high-risk indicators or suspicious activity. EDD goes beyond standard KYC/underwriting by requiring additional documentation, enhanced verification procedures, and deeper analysis of beneficial owners and business operations.
Purpose:
- Mitigate risk of fraud, money laundering, terrorist financing, sanctions violations
- Comply with AML/BSA regulatory requirements
- Protect payment provider from financial and reputational damage
- Make informed decision on account continuation
EDD Process Components:
- Enhanced Documentation: UBO declarations, financial statements, source of funds verification
- Enhanced Verification: Site visits, video calls with beneficial owners, reference checks
- Enhanced Screening: Deep sanctions search, PEP family/associates, multi-year adverse media
- Risk Assessment Update: Re-score merchant, identify mitigation strategies
- Decision & Documentation: Approve, conditionally approve, or terminate
- Ongoing Enhanced Monitoring: More frequent reviews, lower alert thresholds
10 Specific EDD Trigger Scenarios:
1. Beneficial Owner PEP Identification
- Scenario: Background check reveals a 30% beneficial owner is a Politically Exposed Person (PEP)—former state senator now in private sector
- Risk: Increased corruption, bribery, money laundering risk
- EDD Actions: Enhanced sanctions screening (family, close associates), adverse media search (5-10 years), source of wealth verification, senior management approval
2. OFAC Sanctions List Match
- Scenario: Ongoing sanctions screening identifies a beneficial owner match to OFAC Specially Designated Nationals (SDN) list (90% name match + same DOB)
- Risk: Legal prohibition on doing business, severe penalties ($250K+ per violation)
- EDD Actions: Immediate account suspension, manual verification of match accuracy, legal counsel consultation, OFAC reporting if confirmed match
3. Chargeback Ratio Spike
- Scenario: Merchant's chargeback ratio increases from 0.4% to 1.6% in 60 days, primarily fraud-related reason codes (10.4, 4837)
- Risk: Fraud ring, compromised security, network monitoring program placement
- EDD Actions: Chargeback reason code analysis, site visit to verify physical location, fraud tool audit, financial statement review, consideration of termination
4. Volume Increase >100%
- Scenario: Merchant approved for $200K/month is processing $500K/month within 90 days of activation
- Risk: Business model change, fraud, stolen goods, money laundering
- EDD Actions: Request explanation and supporting documentation (marketing campaigns, contracts, inventory receipts), bank statement verification, credit check update, potential re-underwriting
5. Ownership Change >25%
- Scenario: Merchant notifies that the sole proprietor sold 40% ownership to a new partner
- Risk: New beneficial owner introduces unknown risk (criminal history, poor credit, PEP status)
- EDD Actions: Full KYC on new owner (background check, credit check, OFAC screening), updated UBO declaration, corporate structure chart, re-underwriting of entire business
6. Bankruptcy Filing
- Scenario: Credit monitoring alert reveals beneficial owner filed Chapter 7 personal bankruptcy 30 days ago
- Risk: Inability to cover chargebacks/refunds, potential fraud to generate cash flow
- EDD Actions: Request bankruptcy documentation, assess impact on business operations, review financial statements, consider reserve increase or termination
7. Adverse Media—Fraud Allegations
- Scenario: Adverse media monitoring detects news article alleging merchant sold counterfeit products, with BBB complaints and pending lawsuit
- Risk: Regulatory action, chargebacks, reputational damage, potential criminal charges
- EDD Actions: Independent research (BBB, FTC, state AG), contact merchant for explanation, site visit to verify inventory authenticity, consider suspension pending resolution
8. MCC Code Mismatch
- Scenario: Transaction analysis reveals merchant approved for MCC 5999 (Miscellaneous Retail) is processing 80% of volume as MCC 5816 (Digital Games)
- Risk: Interchange optimization fraud, prohibited product sales, network rule violations
- EDD Actions: Website review, transaction sample analysis, merchant explanation, re-underwriting for correct MCC, potential interchange penalties
9. Website Content Violation
- Scenario: Routine website monitoring detects prohibited products (CBD) added to e-commerce site, not disclosed during underwriting
- Risk: Network rule violations, regulatory action, chargebacks
- EDD Actions: Contact merchant immediately, request removal of prohibited content, verify compliance, consider termination if merchant refuses or product is illegal
10. Regulatory Action Notification
- Scenario: Merchant receives FTC investigation notice for deceptive marketing practices (auto-renewal subscriptions without clear disclosure)
- Risk: Fines, chargebacks, cease-and-desist order, reputational damage
- EDD Actions: Request copy of FTC notice, legal review, assess chargeback/refund trends, implement enhanced monitoring, increase reserves, potential termination if FTC finds violations
Additional EDD Triggers (Beyond 10):
| # | Trigger | Description |
|---|---|---|
| 11 | Geographic Risk | Merchant begins processing 50%+ volume from high-fraud countries |
| 12 | Multiple Rapid Changes | Address, ownership, bank account all changed within 90 days |
| 13 | Refund Ratio >20% | Indicates quality issues, buyer remorse, or refund fraud |
| 14 | Data Breach Notification | Merchant reports compromise of cardholder data |
| 15 | PCI Non-Compliance | Merchant fails PCI SAQ or quarterly scan |
| 16 | Network Program Placement | Visa VAMP, Mastercard ECM/EFM |
| 17 | High-Value Fraud | Single fraudulent charge >$10K |
| 18 | Identity Theft Report | Cardholder claims identity stolen, used at this merchant |
| 19 | License Suspension | State suspends business or industry-specific license |
| 20 | Customer Complaints | Pattern of BBB or social media complaints |
EDD Outcome Options:
- Cleared: Investigation finds no significant risk, return to standard monitoring
- Conditional Approval: Continue with enhanced controls (reserves, limits, manual review)
- Termination: Unacceptable risk, close account with reserve hold
Why This Matters: EDD protects against fraud, money laundering, and regulatory violations while creating an audit trail for compliance. A robust EDD process separates good merchants with temporary issues from bad actors who threaten the portfolio.
Related Topic: Ongoing Monitoring - See "Enhanced Due Diligence (EDD)" section
Question 32
Scenario: A merchant originally underwrote as a retail clothing store ($15K/month, card-present) notifies you they are adding an e-commerce website and expect online sales to reach $150K/month within 60 days. Walk through your risk assessment and decision process.
View Answer
Risk Assessment & Decision Process:
Step 1: Recognize Materiality of Change
Multiple Material Changes:
| Change | Original | New | Risk Impact |
|---|---|---|---|
| Processing Model | Card-present | Card-not-present | CNP has 3-5x higher chargeback rates |
| Monthly Volume | $15K | $165K (combined) | 1000% increase |
| Risk Profile | Low-risk retail | Higher-risk e-commerce | Fraud rates 10x+ higher for CNP |
| Chargeback Exposure | Minimal | Significant | CNP disputes easier for cardholders |
Conclusion: This is not a simple business change—it requires full re-underwriting.
Step 2: Initial Risk Assessment
Red Flags:
- Extreme Volume Spike: 1000% increase in 60 days is highly unusual
- Channel Shift: Card-present to CNP fundamentally changes risk
- Timeline: 60-day ramp is aggressive (typical e-commerce ramps over 6-12 months)
Questions to Ask Merchant:
- What is driving this change? (Business opportunity, market shift, investor funding?)
- Do you have e-commerce experience? (First online venture vs existing online presence?)
- What is your marketing plan? (Organic growth, paid ads, influencer partnerships?)
- What is your fulfillment plan? (In-stock inventory, drop-ship, pre-order?)
- What is your product mix? (Same clothing, or new products?)
- What is your website URL? (For review)
- What fraud prevention tools will you use? (AVS, CVV, 3DS, fraud scoring?)
Step 3: Request Re-Underwriting Documentation
Required Documents:
-
Business Plan:
- Marketing strategy (how will you drive traffic?)
- Financial projections (revenue, costs, margins)
- Competitive analysis
-
Website Review:
- Live URL or staging site
- Terms of Service (refund policy, shipping terms, privacy policy)
- Checkout flow (payment page, 3DS implementation)
- SSL certificate (HTTPS required)
-
Fulfillment Plan:
- Inventory location and quantity
- Shipping partners (USPS, UPS, FedEx)
- Average delivery time
- International shipping?
-
Financial Updates:
- Last 3 months bank statements
- Updated business credit report
- Updated personal credit reports (beneficial owners)
- Source of funding for inventory/marketing
-
E-commerce Experience:
- Prior e-commerce history (other sites, marketplaces like Amazon/eBay)
- Technical team (in-house developer, agency, DIY)
- Customer service plan (phone, email, chat)
-
Fraud Prevention:
- What tools are you implementing? (AVS, CVV, 3DS, Kount, Riskified)
- Internal fraud policies (manual review thresholds)
Step 4: Evaluate Risk Factors
Favorable Factors:
| Factor | Evidence | Risk Mitigation |
|---|---|---|
| Established Business | Operating retail store for 5+ years | Track record of legitimacy |
| Low CP Chargeback History | 0.1% chargeback ratio over 3 years | Good business practices |
| Strong Credit | Personal 750+ FICO, business credit current | Financial stability |
| Clear Explanation | Detailed business plan, market research | Legitimate business expansion |
| Professional Website | High-quality design, clear policies | Reduces buyer confusion |
| Fraud Tools | Implementing 3DS, AVS/CVV mandatory | Proactive fraud prevention |
Unfavorable Factors:
| Factor | Evidence | Risk Indicator |
|---|---|---|
| Unrealistic Volume | $15K → $150K in 60 days | Potential fraud, stolen goods |
| No E-commerce Experience | First online venture | Learning curve increases chargebacks |
| Poor Website | Low-quality design, vague policies | Customer confusion |
| Delayed Fulfillment | Pre-order model, 30+ day delivery | High chargeback risk |
| Drop-Shipping | No inventory, ships from third-party | Quality issues, shipping delays |
Step 5: Decision Matrix
Scenario A: Favorable Factors Dominate
Decision: Conditional Approval
Conditions:
- Gradual Ramp: Start with $30K/month online limit, increase by $30K every 30 days if performance is good
- Rolling Reserve: Implement 10% rolling reserve for CNP transactions (held for 180 days)
- Fraud Tools: Mandatory 3DS for all CNP transactions >$50 or international cards
- Enhanced Monitoring: Weekly chargeback/fraud ratio review for first 90 days
- Settlement: T+3 settlement (instead of T+2) to allow fraud detection window
- Manual Review: Transactions >$500 flagged for manual review
- Updated Pricing: CNP transactions priced at higher rate (e.g., 2.9% + $0.30 vs 1.9% + $0.10 for CP)
Scenario B: Unfavorable Factors Dominate
Decision: Decline CNP Processing
Reasons:
- Unrealistic volume projections
- No e-commerce experience
- Poor website quality
- Drop-shipping or pre-order model
Alternative Offered:
- Gradual Pilot: Start with $5K/month CNP limit for 6 months
- Proof of Concept: Demonstrate ability to manage CNP sales with low chargebacks
- Re-apply: After 6 months of successful pilot, re-apply for higher limits
Scenario C: Mixed Factors
Decision: Approve with Strict Controls
Hybrid Approach:
- Continue Card-Present: Existing $15K/month retail processing
- Separate MID for CNP: Create new Merchant ID for e-commerce (isolate risk)
- Conservative CNP Limit: Start with $20K/month CNP, increase gradually
- High Rolling Reserve: 15-20% rolling reserve for CNP
- Mandatory Fraud Tools: 3DS, AVS/CVV, fraud scoring
- Frequent Reviews: Bi-weekly reviews for first 90 days
Rationale:
- Merchant has strong card-present track record (favorable)
- E-commerce is unproven (unfavorable)
- Separate MID isolates CNP risk from established CP business
Step 6: Implementation Timeline (Conditional Approval)
| Timeline | Action | Success Criteria |
|---|---|---|
| Day 1 | Notify merchant of conditional approval | N/A |
| Day 3 | Merchant accepts terms, signs amendment | Agreement signed |
| Day 7 | CNP processing activated ($30K limit) | Technical integration complete |
| Day 30 | First review | Chargeback <1.0%, fraud <0.5% |
| Day 60 | Second review | If good: increase to $60K |
| Day 90 | Final probation review | If good: increase to $150K, reduce reserve |
Step 7: Ongoing Monitoring
Key Metrics:
| Metric | Target | Alert Threshold |
|---|---|---|
| Chargeback Ratio (CNP) | <0.75% | >1.0% |
| Fraud Ratio (CNP) | <0.5% | >0.5% |
| Refund Ratio | <15% | >20% |
| Average Ticket | $50-75 | >$150 |
| Decline Rate | <10% | >15% |
Red Flags for Immediate Suspension:
- Chargeback ratio >2.0% in any 30-day period
- Fraud ratio >1.0%
- Customer complaints about non-delivery, counterfeit products
- Website changes to prohibited products
- Merchant becomes unresponsive
Step 8: Documentation
Underwriting File Must Include:
- Initial application and retail approval documentation
- Notification of business model change
- Re-underwriting documentation (business plan, website review, financials)
- Risk assessment summary
- Decision rationale
- Updated merchant agreement
- Monitoring plan and review schedule
Key Takeaway:
Business model changes are not simple profile updates. A shift from card-present retail to card-not-present e-commerce fundamentally changes risk and requires full re-underwriting. Never approve material changes without:
- Understanding the business rationale
- Evaluating updated risk factors
- Implementing appropriate controls (reserves, limits, monitoring)
- Documenting the decision thoroughly
When in doubt, start conservatively. It's easier to increase limits for a successful merchant than to recover losses from a fraudulent one.
Why This Matters: The combination of processing model change AND massive volume increase represents significant risk. Proper re-underwriting protects against catastrophic losses while supporting legitimate business growth.
Related Topics:
- Ongoing Monitoring - See "Re-Underwriting Process" section
- Risk Factors - Card environment risk
Related Study Materials
- Merchant Agreements - Contractual framework for monitoring obligations
- Ongoing Monitoring - Complete monitoring reference
- Underwriting Fundamentals - Initial KYC/KYB processes
- Risk Factors - Risk indicators and scoring
- KYC/KYB Index - Identity verification requirements
Next: Return to Merchant Onboarding Overview for the complete module.