Get Group Introduction Certificate

To help make sure the customer is really who they say they are. To guard against fraudulent activity such as identity fraud or impersonation. So that the financial institution can assist law enforcement.

CDD regulations typically include a requirement for companies to maintain records of the information they collect for at least five years. This includes copies of all identification documents (driving licenses, passports, birth certificates, etc.) and business documentation.

Customer Due Diligence or CDD” in broader terms includes; I. Identifying the customer and verifying the customer's identity on the basis of. documents, data or information obtained from customer or through reliable and independent source.

“GIC” means Group Introduction Certificate. SCB made use of GICs when. introducing a customer of one SCB office (the sending office) to another overseas. office (the receiving office);

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

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.