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Looking for Valuant? You are in the right place!

Valuant is now Abrigo, giving you a single source to Manage Risk and Drive Growth

Make yourself at home – we hope you enjoy your new web experience.

Looking for DiCOM? You are in the right place!

DiCOM Software is now part of Abrigo, giving you a single source to Manage Risk and Drive Growth. Make yourself at home – we hope you enjoy your new web experience.

AML/CFT Customer Due Diligence

Customer Due Diligence Checklist

Customer Due Diligence (CDD) is the cornerstone of a strong BSA/AML compliance program. In fact, CDD is commonly known as the fifth pillar of Bank Secrecy Act (BSA) compliance. In addition to general onboarding procedures required by your financial institution, regulatory expectation is that you know your customer, with relative certainty. It is also critical to know your customer’s customers, or with whom and where they conduct business. Periodic Enhanced Due Diligence (EDD) reviews should also be conducted for higher risk customers and entities.

This checklist outlines key elements to a strong CDD program, which should be risk-focused and aligned with your enterprise-wide risk assessment.

Download this checklist to learn:

  • Steps for Customer Due Diligence to help strengthen your institution’s program
  • Guidance on Enhanced Due Diligence, depending on the assessed risk of the customer
  • Occurrences when further Enhanced Due Diligence should be conducted

Looking for additional resources on conducting due diligence at your financial institution? Register for the complimentary Abrigo webinar, Beneficial Ownership and Due Diligence: Stepping Up Your Institution’s Information Collection Practices.