EDD
Enhanced Due Diligence
EDD is a higher level of scrutiny applied to customers or transactions that present greater risk. It goes beyond standard CDD requirements.
EDD may require additional documentation, source-of-funds checks, and senior management approval. It is commonly applied to high-risk industries and PEPs.
Related Terms
CDD
Customer Due Diligence
CDD is the process of identifying customers and assessing the risk of their financial activity. It i...
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...
PEP
Politically Exposed Person
A PEP is an individual who holds, or has held, a prominent public function and is considered higher ...
Need to convert bank statements to spreadsheet format? Try our bank pdf converter to easily export your transaction data to Excel or CSV.
The best offline currency converter.
Built for travelers.