What is CUSTOMER DUE DILIGENCE (CDD) in AML - KYC | When & Why to perform customer due diligence

In this video, We have covered the basics definition of Customer Due Diligence, When to perform customer due diligence like at the time of on-boarding, periodic review etc., main elements of CDD (Customer due diligence) such as Customer identification, customer acceptance, risk rating etc.
Customer due diligence is the process of identifying your customer and remove an anonymity around customer profile. It is performed on the customer to ensure that they are properly risk assessed before being on-boarded. It help us to understand the customer profile and this need to kept updated periodically basis either risk events or due to periodic review of the profile.
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[@kidsactivity4636]

Video is quite simple to understand but effective...good job 👌

[@sukhdeepkaur8738]

I liked the slide on main elements of customer due diligence and its well explained

[@pronaybodo3164]

Please create a session on kyc/due diligence requirements of a fund/cis entity type

[@anjali1891]

Just one correction , on the periodic review you said for high risk every 3 years which should have been low risk.
Great video, keep it up.

[@florencehsieh9011]

agreed with you view point. after client risk classification, the frequency of CDD review for high risk customer is 1 year at least. 3 years is normally applied for low risk.

[@balbirkaur1880]

Loved the video 👍

[@gloria_v]

Thank you, this video help to understand more about CDD.

[@AMLtraining]

Thanks for your feedback

[@tsv2031]

Great video & clearly explained point by point..!!! Looking for more such videos

[@AMLtraining]

Thanks for your feedback

[@ranishabana8672]

Voice is very good 👌 understandable 👍

[@AMLtraining]

rani shabana your comment made my day..thanks..I would really appreciate if you could share your feedback on other video as well

[@Gagandeep-xc8bz]

Nice video on customer due diligence...can you also create something on EDD and other types of due diligence 👍

[@TheHanumanbabu]

Informative video.

[@AMLtraining]

Thanks for your feedback 👍

[@krishnanaikwade487]

Thanks

[@sridevishrikumar4225]

Very insightful video as usual, Please put a video on EDD. Thank you!

[@AMLtraining]

Sridevi Shrikumar thanks for your comment. There is a separate video on types of Customer due diligence. We have covered EDD there. Let us know if it helps

[@sridevishrikumar4225]

@@AMLtraining Thank you very much!

[@dtsleite]

Amazing content and I learned a lot about the topics. Just a tip, remove noise from audio please.

[@AMLtraining]

Thanks for your feedback.it meant lot to us. We have improved on audio in our Recent videos. 👍

[@ranishabana8672]

Very nice 👌 superb 👍😊

[@AMLtraining]

Rani Shabana thanks so much for your feedback.

[@florencehsieh9011]

referring to the transactions involve with "high risk" countries like Iran, North Korea, the enhanced CDD are required and may create CTF concerns. Noting that Iran, North Korea, South Sudan, Cuba, Syria are the sanctions countries and those transactions need to be stopped and investigated before processing.

[@AMLtraining]

Certainly, transactions from high risk countries can be one of the transaction monitoring rule for transaction monitoring alert. these transactions will get reviewed/investigated using risk based approach

[@baa6131]

Very insightful, however the quality of the audio not the best. I can hear noise by listening on headphones. Consider getting a micro that you hang on your shirt, near your face

[@AMLtraining]

Thanks for your feedback. We made improvement in our Recent videos. Request you to review our Recent videos and give us your feedback.👍

[@mirzarizwanbaig9449]

Tutorial on tools used and how to perform end to end

[@AMLtraining]

It would be difficult to ascertain tools as it may differ from bank to bank and country to country. But let us see what we can prepare on this topic

[@imandimanikanta3660]

Question - could you pls help what are the list of documents needed for CDD and for EDD.

[@AMLtraining]

You may refer our videos - what is corporate KYC or CDD requirements for trust

[@user-ff8ew8gh8m]

Gr8

[@AMLtraining]

Thanks for your feedback

[@lucagraziano8739]

Sometimes I find it difficult to understand the words you're saying, you should remove noise from the audio as it would dramatically increase the understanding of the topic overall

[@AMLtraining]

Luca Graziano thanks for your feedback..I will make sure there is no such noise in all my future videos 👍

[@lucagraziano8739]

@@AMLtraining I checked out more recent videos and I can see that you had already fixed the audio. Great job and keep up the good work 💪🏻

[@denisapasha7432]

What tools do you use more?
Thank you!

[@AMLtraining]

Tools and applications may differ basis jurisdictions and banks.

[@user-mr7qf5xs3r]

i think for high risk customers the time period should be less , i mean more frequently they should update KYC but you said for medium 2 years and for high risk 3 to years. please check once

[@AMLtraining]

Yes, you are right that High risk would be 6 months to a year

[@user-ow1eu4sr4s]

question: what is required to be conducted for all types of customers across all types of products and services? is it cdd or kyc?

[@AMLtraining]

We conduct stardard due diligence (CDD)for low to medium risk customers. And, for high risk customers we conduct enhanced due diligence (EDD). Also, there are few customers who may be public listed company or government entities entitle for simplified due diligence where we don't identify UBO. We hope this answer your question.

[@MohdAli-rc8rn]

CDD & KYC are the same

[@madritjanaki1009]

Iran seiria sergia This is all mostly in Red flags or sanction countries

[@AMLtraining]

Not clear with your comment

[@madritjanaki1009]

@@AMLtraining
Iran seirgia
These are terrorist financing know

[@premak2949]

too many ads

[@a.refathfathima.refath9416]

Facing background noise

[@AMLtraining]

Thanks for your feedback. We have improved on audio quality in our recent videos.