Customer Due Diligence: Are You KYC Compliant?


Customer Due Diligence According to FinCen, there are four core elements of customer due diligence (CDD). CDD improves financial transparency and prevents bad actors from abusing companies to disguise illicit activity. Financial Institutions should develop explicit written policies following the anti-money laundering (AML) program. CDD policies should cover: Customer identification and verification Beneficial [...]