As per the RBI Master Circular on KYC:

• High-risk customers are required to update their information at least once every two years.
• Medium-risk customers should update their information once every eight years.
• Low-risk customers should update their information once every ten years, starting from the account opening date or the last KYC update.

There are also industry-based and location-based requirements regarding KYC expiration.

Using Sumsub TM lets you:

• Stay compliant with KYC expiration requirements regardless of the jurisdiction or industry.
• Adjust the KYC-renewal date based on the applicant's risk level.
• Keep cooperating with your current KYC provider.

Get and use Transaction Monitoring to renew applicant KYC

To monitor your customers' KYC expiration and inform them about the required renewal:

1. Create a verification level and set it up based on the applicable regulatory requirements.
2. Create a rule with the Trigger scheduled event type and add the following:
   • Rule condition with the following expression function:
     Example

     applicant.reviewStatus == 'completed' AND
     applicant.reviewAnswer == 'GREEN' AND
     diffDays(applicant.reviewDate, now()) >= 365

     📘

     Note

     This condition triggers the applicant review every 365 days. You can adjust the condition by changing the time period or adding extra checks, such as limiting the trigger to a specific level or to applicants with a specific tag.

   • Applicant action: Review applicant -> Change level and select the level you created at Step 1. If needed, you can also reset any step by selecting the corresponding checkbox.
3. Click Create rule to save the configuration.