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

Article ID: 2913
Last updated: 10 Jun, 2019

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.
Article ID: 2913
Last updated: 10 Jun, 2019
Revision: 1
Views: 491
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