Customer Due Diligence

Customer Due Diligence (CDD) is a process businesses use to verify customer identity and assess risk. For more information on the importance of identity verification, check out this article.

What Is CDD

CDD involves collecting and verifying customer information to understand who they are and assess potential risks. This process is crucial for ensuring compliance with regulations such as KYC.

Regulatory Requirements

Financial services and other regulated industries are required to perform CDD under AML regulations. Understanding the impact of a bad credit score can also be beneficial in assessing risk.

Conclusion

CDD is essential for compliance and fraud prevention in regulated industries.