What does a "four-eyes check" during onboarding ensure?

A "four-eyes check" during onboarding is a critical process that ensures a second individual reviews the documentation and assessments related to a new customer. This practice is vital in the context of compliance and risk management, as it helps to enhance the quality and thoroughness of the information gathered during the onboarding process. By having multiple pairs of eyes examine the customer’s file, the organization can reduce the likelihood of errors, omissions, or potential fraud, and ensure that the due diligence process is comprehensive.

This review process often involves verifying that all necessary documents are in place, that the information aligns with internal policies, and that proper risk assessments are conducted. The intent is to provide an additional layer of oversight, fostering accountability and diligence in the onboarding procedure.

While other options mention important aspects of compliance and customer management, they do not encapsulate the specific purpose of the four-eyes check, which is fundamentally about ensuring thorough review and verification by a second party.