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