Review:
Customer Due Diligence (cdd)
overall review score: 4
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score is between 0 and 5
Customer Due Diligence (CDD) is a process that financial institutions and other businesses must follow to verify the identity of their customers and assess the risk of illegal activities such as money laundering and terrorist financing.
Key Features
- Identity verification
- Risk assessment
- Monitoring customer transactions
Pros
- Helps prevent financial crimes
- Enhances regulatory compliance
- Protects businesses from reputational damage
Cons
- Can be time-consuming and costly
- May create barriers for legitimate customers