What are the international standards for Customer Due Diligence? What is the role of the Financial Action Task Force (FATF) in Customer Due Diligence?

Feb 12, 2025 ... Customer due diligence (CDD) is the process of verifying a customer's identity and assessing their risk level through background checks, ... Report on the legal, regulatory and supervisory implementation across EU Member States in relation to the Beneficial Owners Customer Due Diligence requirements. The CDD Rule requires these covered financial institutions to identify and verify the identity of the natural persons (known as beneficial owners) of legal ... Ongoing due diligence (also known as ODD or ongoing monitoring) refers to the ongoing analysis of customers so that banks and financial institutions can better ... Mar 20, 2025 ... What is Customer Due Diligence? Customer Due Diligence (CDD) is the process of collecting and verifying information about a customer during ... Aug 29, 2024 ... The primary difference between CDD (Customer Due Diligence) and EDD (Enhanced Due Diligence) lies in the level of risk and depth of ... Customer due diligence (or CDD), in relation to a customer of a firm, is all of the following measures: (a) identifying the customer; (b) verifying the ... CDD consists of performing background checks, and screening potential and existing customers to ensure they're not involved in illegal activity. At a minimum, ... CDD-X complements transaction monitoring with better client risk attributes and enables integrated watch list filtering to screen and risk score all related ... A CDD check is the process of verifying a customer's identity, understanding their financial behavior, and assessing their risk profile to ensure compliance ...