Get the free Customer Due Diligence Form - Burton Partners

Customer Due Diligence Form Individual Person The Antimony Laundering and Countering Financing of Terrorist 2009 (Act) requires Burton Partners to conductcustomerduediligence(CDD)onitsclientswheretheservicestobeprovidedbyBurtonPartnersare

How to fill out customer due diligence form

How to fill out customer due diligence form

1. To fill out a customer due diligence form, follow these steps:
2. Gather all the necessary documents and information required for the form, such as the customer's identification, proof of address, and other relevant details.
3. Start by inputting the customer's basic information like name, date of birth, and contact details.
4. Proceed to collect the customer's identification details, such as their passport or driver's license number, issuing country, and expiration date.
5. Provide spaces to enter the customer's residential address and other contact information.
6. If applicable, include sections for additional identification documents, such as social security numbers or tax identification numbers.
7. Ensure that the form includes sections for the customer's employment details, such as their occupation, employer's name, and address.
8. Add fields to capture the customer's financial information, including income, assets, and liabilities.
9. Include necessary checkboxes or sections for the customer to declare any politically exposed person (PEP) status or potential risk factors.
10. Add a section for the customer's declarations and signatures, consent to use their information, and acknowledgement of understanding the purpose of the form.
11. Review the completed form for accuracy and completeness before submitting it for further processing or compliance purposes.

Who needs customer due diligence form?

1. Any institution or organization that is mandated to comply with regulatory requirements for anti-money laundering (AML) and know your customer (KYC) procedures needs a customer due diligence form.
2. Banks, financial institutions, insurance companies, investment firms, and other entities involved in financial transactions often require customer due diligence to mitigate risks, prevent fraud, and ensure compliance with legal obligations.
3. Additionally, businesses operating in high-risk sectors such as real estate, gambling, or luxury goods may also need customer due diligence to prevent money laundering and terrorism financing.

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What is customer due diligence form?

Customer due diligence form is a document used by businesses to gather important information about their customers in order to assess the level of risk they pose and comply with anti-money laundering regulations.

Who is required to file customer due diligence form?

Financial institutions, banks, and other businesses that are subject to anti-money laundering laws are required to file customer due diligence forms.

How to fill out customer due diligence form?

To fill out a customer due diligence form, businesses typically need to collect information such as the customer's name, address, date of birth, identification documents, and details about their financial transactions.

What is the purpose of customer due diligence form?

The purpose of customer due diligence form is to verify the identity of customers, assess the risk they pose for money laundering or terrorist financing, and comply with legal requirements.

What information must be reported on customer due diligence form?

Information such as the customer's name, date of birth, address, identification documents, nature of the business relationship, and beneficial ownership details must be reported on the customer due diligence form.