EDD, or enhanced due diligence, is additional review applied when a customer, counterparty, geography, product, transaction, or ownership structure presents higher financial-crime risk. It can include deeper identity verification, source-of-funds and source-of-wealth checks, adverse media review, senior approval, tighter limits, and more frequent ongoing monitoring.
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Glossary term
What is EDD?
EDD, or enhanced due diligence, is additional review applied when a customer, counterparty, geography, product, transaction, or ownership structure presents higher financial-crime risk. It can include deeper identity verification, source-of-funds and source-of-wealth checks, adverse media review, senior approval, tighter limits, and more frequent ongoing monitoring.