EDD

Enhanced Due Diligence

EDD is a higher level of scrutiny applied to customers or transactions that present greater risk. It goes beyond standard CDD requirements.

EDD may require additional documentation, source-of-funds checks, and senior management approval. It is commonly applied to high-risk industries and PEPs.

Related Terms

CDD

Customer Due Diligence

CDD is the process of identifying customers and assessing the risk of their financial activity. It i...

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...

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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