The Know Your Customer (KYC) process is essential when initiating a business relationship with a client. However, when the relationship continues over time, it's equally important to maintain ongoing Customer Due Diligence (CDD).
That’s why it’s necessary to regularly update your understanding of your client, their activities, and the source of their funds. You should also verify that their risk profile hasn’t changed—for example, due to new financial sanctions or because they have become a Politically Exposed Person (PEP).
This systematic review of the client’s activity and transactions to ensure they align with their expected behavior and profile is known as monitoring.
Parallel supports you in this monitoring process through several key features, as explained below.
Continuous Background Check
Just as you can run checks against sanctions and PEP lists during the KYC process, you can also run ongoing checks directly from Parallel profiles.
Using the list search properties, Parallel will automatically monitor these lists on a regular basis and alert you if there are any changes.
For example, if you enter search details (such as your client’s full name) in the property, Parallel will automatically notify you if, when the search is renewed, that person appears on a sanctions list.
Running Searches from Profiles
When a search is launched from Profiles and not as part of a process like KYC (for example, when importing a new customer list from Excel), it’s important to review the results.
If the search hasn’t been reviewed yet, it will be labeled “Pending resolution”.
When reviewing, you may encounter the following scenarios:
1. Mark as match – Select the relevant result and click “Save match” to save it to the profile.
2. Search with no results – Click “Save to profile” to confirm you’ve reviewed the search and found no matches.
3. False positives – If none of the results are correct, mark them as false positives either individually or all at once.
You can also modify the search to narrow down results (for example, by adding date of birth, nationality, or country of birth).
For a detailed walkthrough of how to review list searches from Profiles, see this video:
Alerts in Continuous Monitoring
If you have monitoring enabled and the system detects changes to a saved result, an alert is generated and an email notification is sent.
An alert can be triggered for two main reasons:
A new profile appears as a possible match — in this case, you’ll need to mark it as either a match or a false positive.
A previously saved profile changes (for example, being added to or removed from a list) — in this case, you’ll need to click Mark as reviewed to clear the alert.
In the profile list, you can use the "has pending review" filter to quickly find searches that still need review or have active alerts.
Adapt Monitoring to your Needs
You can also customize the frequency of these checks based on the client’s initial risk assessment, or choose whether or not to enable continuous monitoring—depending on whether it’s an ongoing business relationship or a one-off transaction.
Tip
You can set different search frequencies to align with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations, or adopt stricter practices depending on your organization’s compliance strategy.
For example, you can establish the following search frequencies:
High risk: annually
Medium risk: every 3 years
Low risk: every 5 years
