When should EDD be applied?

Singapore
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When should EDD be applied?

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Regulated entities are required to conduct Enhanced Due Diligence (EDD) when

  • The client belongs to or is closely associated with high-risk jurisdictions, such as countries that are subject to FATF’s Call for Action
  • The client or the beneficial owner of the client, if the client is a legal entity, is a Politically Exposed Person (PEP) or is a close associate or a family member of a PEP
  • Any concerned authority notifies the person as posing an increased risk of money laundering or terrorism financing checkout our blog: