Both Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) are key components of AML/CFT regulations that are designed to prevent money laundering, terrorist financing, and other financial crimes. These processes are used by reporting entities to assess and verify the identity of their customers.
The AMLHUB outsourcing team manages the outsourcing for many New Zealand reporting entities. We have good oversight over the things that go right, and the ways it can go wrong.
Keep reading to learn about the six most common mistakes made in customer due diligence (CDD), and how you can avoid them. Plus, download your copy of the ID Document Guide.
This blog was updated 12 February, 2024.
