How to do due diligence on a client?
Customer due diligence (CDD) involves a series of steps, including:
• Collecting data on current or potential customers
• Verifying the information with government issues IDs and documents
• Screening names against local and international Sanctions Lists
• Conducting customer risk profiling
• Performing ongoing monitoring of customer relationships and transactions
• Maintaining records as prescribed
To understand the process in detail, check out this video: Video on Key Components of Customer Due Diligence