Customer Due Diligence (CDD) and Know Your Customer (KYC) Explained
Customer Due Diligence (CDD) and Know Your Customer (KYC) are essential components of a robust anti-money laundering (AML) framework. CDD is a comprehensive process that involves understanding a customer’s identity, business activities, and risk profile. KYC, on the other hand, is a specific part of CDD that focuses on verifying a customer’s identity. Once a […]