AML & Compliance Intermediate

CDD (Customer Due Diligence)

💡 In plain English: The standard level of identity and background checks a bank applies to most customers.

Definition

Customer Due Diligence is the process of collecting and verifying information about a customer's identity, purpose of relationship, and expected transaction behaviour. It is a core part of KYC.

📌 Real-World Example

A bank collects your Emirates ID, salary certificate, and asks about your expected monthly transactions. This is standard CDD.

Related Terms

AML (Anti-Money Laundering)
The rules and systems banks use to stop criminals turning illegal...
KYC (Know Your Customer)
The process banks use to verify who you are, what you do, and...
EDD (Enhanced Due Diligence)
Extra-deep background checks applied to high-risk customers —...
PEP (Politically Exposed Person)
Politicians, senior government officials, judges, and military...
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⚠️ Educational Content: All definitions and examples on this page are for educational and consultancy reference purposes only. They do not constitute financial, legal, or investment advice. Moneykar is not registered with SEBI, CBUAE, SCA, or any financial regulator. Consult a qualified professional before making financial decisions.

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