CDD

Customer Due Diligence

CDD is the process of identifying customers and assessing the risk of their financial activity. It is a core part of AML and KYC programs.

CDD includes verifying identity, understanding the nature of the relationship, and ongoing monitoring. Higher-risk customers may require enhanced due diligence.

Related Terms

KYC

Know Your Customer

KYC is the process financial institutions use to verify the identity of their customers. It's a key ...

AML

Anti-Money Laundering

AML refers to the laws, regulations, and procedures designed to prevent criminals from disguising il...

EDD

Enhanced Due Diligence

EDD is a higher level of scrutiny applied to customers or transactions that present greater risk. It...

PEP

Politically Exposed Person

A PEP is an individual who holds, or has held, a prominent public function and is considered higher ...

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