Risk Rating on Customer Opening New Saving Acct?

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Question:

Should we complete a risk rating on a customer opening a new saving account, as an example, or how are the accounts selected that this is completed on, i.e. based on what criteria?

Answer:

Unless the customer themselves fails your standard customer due diligence test because of the nature of the customer, I am not sure why anyone would specifically risk rate a savings account, other than low, if you have such a rating?