Customer Due Diligence (Dictionary Entry)

Owned by David Doret
Last updated: 01-11-2020
1 min read

Contexts

Compliance, IAM

Term

Customer Due Diligence

Acronym

CDD

Quotes

Customer Due Diligence: FATF Recommendation 10 on CDD is based on four pillars, requiring: 1) identification and verification of customers, 2) identification and verification of beneficial owners, 3) understanding the nature and purpose of transactions, 4) monitoring the clients and their transactions on an ongoing basis.

(World Bank Group and GPFI, 2018, p. vii)

See Also

References

Follow us on LinkedIn | Discuss on Slack | Support us with Patreon | Sign-up for a free membership.

This wiki is owned by Open Measure, a non-profit association. The original content we publish is licensed under a Creative Commons Attribution 4.0 International License.