CDD, or customer due diligence, is the baseline process for identifying a customer, understanding the purpose of the relationship, and assessing financial-crime risk before and during service. It usually includes identity verification, beneficial ownership checks for legal entities, sanctions and PEP screening, customer risk rating, and ongoing monitoring.
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Glossary term
What is CDD?
CDD, or customer due diligence, is the baseline process for identifying a customer, understanding the purpose of the relationship, and assessing financial-crime risk before and during service. It usually includes identity verification, beneficial ownership checks for legal entities, sanctions and PEP screening, customer risk rating, and ongoing monitoring.