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Initial and Ongoing Customer Due Diligence (CDD)Tuesday 07 February 2017, LimassolSeminar DetailsTitle:Initial and Ongoing Customer Due Diligence (CDD) Dates:Limassol 07 February 2017 Time:09:00 14:00.

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On-going due diligence applies whenever the reporting institutions has on-going business relationship with the customer (customers maintaining an account, repeated customers, membership programme etc.).

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.

To help prevent the risk of money laundering and terrorist financing, due diligence should be completed before entering into a business relationship with a customer, or an occasional transaction takes place. Once your customer has been identified and verified, the due diligence is usually reviewed on a periodic basis.

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

If the customer is considered high risk, the business might need to carry out enhanced due diligence (EDD) checks. EDD is necessary if you're entering into a business relationship with a politically exposed person (PEP), if the transaction involves a person from a high-risk country or any other situation where there's ...

Customer Due Diligence (CDD) is the process of collecting and verifying information about a customer during onboarding. This includes the customer's name, address, and other personal data. Businesses must carry out CDD when establishing a business relationship.

When is Customer Due Diligence (CDD) Required? Customer Due Diligence (CDD) is required when an organisation falls under the AML/ CFT regulation. This means it has to conduct identity verification on potential customers to assess their risk profile.

Customer Due Diligence (CDD) is the process of verifying a customer's identity and performing a risk assessment of conducting business with this individual or business. The purpose of CDD processes is to mitigate the risk of doing business with customers that are a risk of performing criminal activity.

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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