When should an Enhanced Due Diligence (EDD) be applied?

The Enhanced Due Diligence (EDD) should be applied when:

1. a Client Due Diligence (CDD) inquiry leads to higher risk of money laundering or terrorist financing, and in particular if a client has not been physically present for identification purposes.
2. you enter into a business relationship with a Politically Exposed Person (PEP).
3. you enter into a transaction with a person from a high risk third country identified by the EU.
4. there is any other situation where there’s a higher risk of money laundering.