CDD
Customer Due Diligence
CDD is the process of identifying customers and assessing the risk of their financial activity. It is a core part of AML and KYC programs.
CDD includes verifying identity, understanding the nature of the relationship, and ongoing monitoring. Higher-risk customers may require enhanced due diligence.
Related Terms
KYC
Know Your Customer
KYC is the process financial institutions use to verify the identity of their customers. It's a key ...
AML
Anti-Money Laundering
AML refers to the laws, regulations, and procedures designed to prevent criminals from disguising il...
EDD
Enhanced Due Diligence
EDD is a higher level of scrutiny applied to customers or transactions that present greater risk. It...
PEP
Politically Exposed Person
A PEP is an individual who holds, or has held, a prominent public function and is considered higher ...
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