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Palma Sold Trace Community Development District Board of Supervisors Meeting February 28, 2019, District Office: 9428 Camden Field Parkway Riverview, FL 33578 813.533.2950www.palmasolatracecdd.organza
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CDD - Palma Sola stands for Customer Due Diligence - Palma Sola. It is a regulatory requirement for financial institutions to verify the identity of their customers and assess their risk for money laundering and terrorist financing.
Financial institutions such as banks, credit unions, and other entities regulated by anti-money laundering laws are required to file CDD - Palma Sola.
CDD - Palma Sola is typically filled out by collecting information from customers such as their name, address, date of birth, and identification documents. This information is then used to assess the customer's risk level.
The purpose of CDD - Palma Sola is to prevent money laundering and terrorist financing by ensuring that financial institutions know their customers, understand the nature and purpose of their accounts, and monitor their transactions for suspicious activity.
Information such as the customer's name, address, date of birth, identification documents, nature of the business relationship, and source of funds must be reported on CDD - Palma Sola.
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