Request an online demo
Get a personalized online demo of Kount's trust and safety technology at a time and date of your choosing.
Customer Due Diligence (CDD)
Customer Due Diligence (CDD) is the process of verifying the identity of a customer and assessing the potential risks associated with them before establishing a business relationship. This involves collecting and evaluating information about the customer to ensure they are who they claim to be and understanding the nature of their activities.
CDD is essential for preventing financial crimes such as money laundering and fraud. By thoroughly vetting customers, businesses can identify and mitigate potential risks, ensuring compliance with regulatory requirements like anti-money laundering (AML) and Know Your Customer (KYC) standards. Effective CDD processes help protect the business and its clients by promoting transparency and trust in business relationships.
RELATED READING
Customer due diligence with analyst reviews
Regulatory reporting for portfolio monitoring