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KB Home / AML / When should you apply Customer Due Diligence (CDD)?

When should you apply Customer Due Diligence (CDD)?

Article ID: 2915
Last updated: 10 Jun, 2019

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.
Article ID: 2915
Last updated: 10 Jun, 2019
Revision: 1
Views: 144
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