Customer Due Diligence
Customer Due Diligence is a crucial part of corporate integrity and the fight against financial and economic crime
Overview of Customer
Due Diligence
Client or Customer due diligence, also referred to as Know Your Customer (KYC) , is a crucial part of the fight against financial and economic crime.
If an organisation does not properly understand and oversee the credibility of their potential customers or business partners, it can result in harm to their reputation, large fines, and even legal action.
Design and
acceptance process
Creating an effective process for accepting and managing business relationships can be quite tricky. Many organisations lack knowledge, and struggle to get it right. This is where our compliance experts come in – they can either help you navigate this process or even handle it entirely for you. This will help you to remain compliant and retain your good reputation.
How we work
with you
Our compliance specialists are completely familiar with the Wwft. They have detailed and up to date knowledge of the relevant laws and publications, and. extensive experience in providing support in CDD tasks like screening and background checks, both when accepting new clients and establishing other business relationships. We can help you to:
- Interpret the Wwft and Sanctions Act and translate the requirements to your business
- Determine the risks your organisation might face
- Create, improve, and put into practice KYC/CDD policies and steps
- Check your business relationships against Sanctions and PEP lists and complete a background media check
- Carry out both standard and enhanced research.Perform and/or validate CDD recovery projects
- Undertake transaction monitoring
E-learning Wwft Customer Investigation
Of course, it is essential to understand the rules and regulations when undertaking customer investigations. But good detective work plays a role and strong analytical skills are needed.
Our Wwft Customer Investigation e-learning is available online through our training institute, The Ministry of Compliance. It offers you both the knowledge and the practical skills required for successful Customer Due Diligence. This training will help you to analyse, assess, conclude, and record.
