Why Banks carry out Enhanced Due Diligence (EDD) on Politically Exposed Persons (PEPs)

Some few salient points for further debate, discussion and dialogue. In my book, Financial Crime Risk Management and Compliance (2016) , I have provided some simpler working definitions for everyone to be on the same page. Money Laundering (ML) is the process by which criminals attempt to conceal or disguise the ownership and origin ofContinue reading “Why Banks carry out Enhanced Due Diligence (EDD) on Politically Exposed Persons (PEPs)”

Customer Due Diligence (CDD) – Final Rule

The regulatory landscape of Know Your Customer (KYC) Policies and Customer Due Diligence (CDD) requirements and expectations for Financial Institutions like Banks, Brokers, FinTech and Insurance Companies are always a moving target. In another write-ups I alluded to the Banking mandatory requirement of conducting Customer Due Diligence (CDD). For practical purpose and simplification, CDD wasContinue reading “Customer Due Diligence (CDD) – Final Rule”