When should you apply Customer Due Diligence (CDD)?

Customer Due Diligence (CDD) should be applied when:

1. establishing a business relationship with a customer.
2. there is a suspicion of money laundering or terrorist financing.
3. there are doubts about a customer’s identification information obtained previously.
4. it becomes necessary, for example, a change in circumstances of an existing customer might necessitate Customer Due Diligence (CDD).
5. an occasional transaction worth €15,000 or more is carried out by non high value business.