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CUSTOMER DUE DILIGENCE (CDD) Flowchart illustrative flowchart and templates in EP 200 IG 2 are designed for professional accountants and professional firms which provide services listed in paragraph
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Customer Due Diligence (CDD) is the process of verifying the identity of customers to assess their potential risk of involvement in illicit activities such as money laundering or terrorism financing.
Financial institutions, including banks, credit unions, and money services businesses, are required to file Customer Due Diligence (CDD) reports.
Customer Due Diligence (CDD) forms can typically be filled out electronically or manually by providing personal information, identification documents, and answering specific questions about the customer.
The purpose of Customer Due Diligence (CDD) is to prevent money laundering and terrorism financing by verifying the identities of customers and assessing their risk levels.
Customer Due Diligence (CDD) reports typically require information such as the customer's name, address, date of birth, identification number, and source of funds or wealth.
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