All termsCompliance and RegulationWorth knowing
Customer Due Diligence (CDD)
Customer Due Diligence, usually shortened to CDD, refers to processes used to understand and assess a customer as part of a financial relationship. It commonly includes identifying and verifying the customer and, where required, understanding relevant ownership, purpose and risk information.
Why it matters to you
KYC is often used as the familiar shorthand for identity checks, but compliance usually goes beyond simply checking someone's name and identification. CDD helps financial businesses understand who they are dealing with and apply appropriate controls.
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