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AKD Securities Limited Compliance Department CUSTOMER DUE DILIGENCE & KNOW YOUR CUSTOMER POLICY Customer Due Diligence & Know Your Customer Policy ADSL Topics Page No. Introduction & Scope 02 Customer

How to fill out customer due diligence amp

How to fill out customer due diligence amp

1. Start by collecting all the necessary information about the customer, such as their full name, address, date of birth, and contact details.
2. Verify the customer's identity using reliable and valid documents, such as passports or government-issued identification cards.
3. Conduct a risk assessment to determine the level of due diligence required for the customer. This can include factors such as the customer's occupation, country of residence, and level of financial transactions.
4. Perform enhanced due diligence for high-risk customers, which may involve additional measures such as verifying the source of their funds and conducting background checks.
5. Record and document all the steps taken during the customer due diligence process in a comprehensive manner.
6. Regularly review and update the customer's due diligence information to ensure it remains accurate and up to date.
7. Implement appropriate internal controls and procedures to prevent money laundering and terrorist financing.
8. Train and educate employees on the importance of customer due diligence and the steps involved in the process.

Who needs customer due diligence amp?

1. Financial institutions, such as banks and insurance companies, need customer due diligence to comply with anti-money laundering (AML) and know your customer (KYC) regulations.
2. Money service businesses, such as remittance providers and currency exchange offices, also require customer due diligence to prevent illicit financial activities.
3. Securities firms and investment advisors need customer due diligence to ensure the suitability of their services and comply with regulatory requirements.
4. Businesses that deal with high-value transactions or involve high-risk customers, such as casinos and luxury goods dealers, require customer due diligence to mitigate the risk of money laundering.
5. Professional service providers, including lawyers, accountants, and real estate agents, need customer due diligence to prevent involvement in illegal activities.
6. Non-profit organizations that receive significant donations or operate internationally may need customer due diligence to ensure the legitimacy of funds and comply with legal obligations.

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What is customer due diligence amp?

Customer Due Diligence (CDD) is a process that financial institutions must follow to identify and verify the identity of their customers and assess the risks associated with doing business with them.

Who is required to file customer due diligence amp?

Financial institutions, including banks, credit unions, and other entities that offer financial services, are required to file customer due diligence amp.

How to fill out customer due diligence amp?

Customer due diligence amp can be filled out by collecting information such as customer's name, address, date of birth, and identification documents.

What is the purpose of customer due diligence amp?

The purpose of customer due diligence amp is to prevent money laundering, terrorist financing, and other financial crimes by verifying the identity of customers and assessing their risk levels.

What information must be reported on customer due diligence amp?

Information such as customer's name, address, date of birth, identification number, and risk assessment must be reported on customer due diligence amp.