Customer Due Diligence (CDD)
Overview
Customer Due Diligence (CDD) is the process of verifying a customer’s identity and assessing their risk level before offering financial services. It ensures that institutions know their customers, comply with AML rules, and prevent criminals from exploiting the financial system.CDD involves checking documents, validating identity, and monitoring customer activity for unusual patterns. It forms the baseline for AML compliance globally, with stricter checks (Enhanced Due Diligence) applied for higher-risk customers.
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