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N No.*/ Company Registration No (UEN No.) Residential Address Date of Birth Nationality Customer is required to submit a copy of identification document (NRIC/Passport/FIN/ACRA or its equivalent) if there is any change to the above particulars. *If Passport/FIN is submitted, please provide documentary proof of residential address. You may provide either a page in passport that reflects the residential address of the customer or a recent copy of utility or telephone bill, bank statement or co.

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The enhanced due diligence measures for customers who are not physically present and other higher risk situations include: obtaining further information to establish the customer's identity. applying extra measures to check documents supplied by a credit or financial institution.

There are three levels of customer due diligence: standard, simplified, and enhanced.

Customer Due Diligence checklist — five steps to improve your CDD Step 1: Verify customer identities. Step 2: Assess third-party information sources. Step 3: Secure your information. Step 4: Take any necessary additional measures. Step 5: Ensure you're audit ready. Ongoing CDD.

Basic customer due diligence involves collecting information about: the identity of a customer – from their company address to the names of their individual executives. the activities a customer is engaged in and markets in which they operate. the other entities with which a customer does business.

Customer due diligence (CDD) is required of any business that interacts with customers and is covered by know your customer (KYC) and anti-money laundering (AML) regulations. Its purpose is to prevent financial crime and uncover any risks to your organization that could arise from doing business with certain customers.

Enhanced Due Diligence AML Requirements CDD regulations typically require firms to maintain records of the information they collect for at least five years. This includes copies of all identification documents (driving licenses, birth certificates, passports, etc.) and business documentation.

A customer due diligence (CDD) checklist is a critical part of any business's compliance program. This document helps companies identify and assess the risk associated with their clients.

Here is the comprehensive Customer Due Diligence (CDD) Checklist for your easy reference: Collect data on customers or potential customers. Verify the information with government IDs. Screen name against Sanctions, Terrorists, PEPs, or Criminals. Determine the risk profile. Ongoing monitoring of customer relationship.

Five Steps To Improve Your Due Diligence Processes. Step 1: Verify customer identities: Ascertain the identity and location of the potential customer and gain a good understanding of their business activities. ... Step 2: Activity Monitoring. ... Step 3: Don't ignore Red Flags. ... Step 4: Document Everything. ... Step 5: Use Technology.

There are four components or requirements of CDD, which include: Customer identification and verification. Understanding the nature and purpose of the business-customer relationship. Beneficial ownership identification and verification. Ongoing monitoring for suspicious activities.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232