What are the requirements for CDD?

What are the requirements for CDD?

Customer due diligence requirements can be understood through four components.

These are customer identification and verification, understanding the nature and purpose of the business-customer relationship, conducting risk profiling of the customer and undertaking ongoing monitoring for suspicious activities.

CDD process can be optimised to ensure optimum regulatory adherence. Customer Due Diligence Process Automation: Optimizing Regulatory Adherence