Customer Due Diligence vs Enhanced Customer Due Diligence A practical overview of CDD requirements, EDD requirements, KYC requirements, and how AML checks actually operate in a compliance framework. What Customer Due Diligence (CDD) Means in Practice Customer Due Diligence (CDD) is the baseline AML/CTF requirement. It focuses on verifying who the customer is, understanding the...
Practical EKYC Solutions for AML/CFT Reporting Entities Electronic identity verification (EKYC) is one of the core components of modern KYC and AML/CFT compliance. It is the part of the process focused solely on confirming who the customer is-using digital tools, authoritative data sources, biometrics, document checks, and liveness verification. EKYC does not replace full KYC,...
Overview of the Enhanced Customer Due Diligence Procedure Enhanced Due Diligence (EDD) is applied when customers or transactions present higher ML/TF exposure, and it sits above standard CDD. EDD occurs at two points in the lifecycle: initial onboarding and ongoing monitoring, and the triggers are either set by law or identified through a reporting entity’s...
PEP & Sanctions Screening in the KYC Process PEP screening and sanctions screening form a critical part of the Know Your Client (KYC) process. They identify customers who present elevated ML/TF risk or who cannot be onboarded at all due to legal restrictions. A practical approach focuses on understanding when screening must occur, how results...
KYB Compliance and ML/TF Risks Know Your Business (KYB) is a core element of AML/CFT risk assessment and focuses on understanding the nature of a reporting entity’s operations, products, clients, and delivery channels. Different sectors carry different ML/TF exposure, but most reporting entities share several common KYB risk areas that need to be assessed and...
