Implement Risk-Based Customer Due Diligence Programme
What this control requires
Establish CDD procedures covering: customer identification and verification using reliable independent sources, beneficial ownership determination, understanding the business relationship purpose and nature, and ongoing monitoring. Apply Simplified Due Diligence (SDD) for low-risk customers and Enhanced Due Diligence (EDD) for high-risk customers, PEPs and correspondent relationships.
Other AMLD6 controls
AML-BOW-001 - Maintain Verified Beneficial Ownership RegisterAML-PEP-001 - Implement PEP Screening and Enhanced Due Diligence ProgrammeAML-RECORDS-001 - Maintain AML/CFT Records for Minimum 5 YearsAML-SANCTIONS-001 - Implement Real-Time Sanctions Screening ProgrammeAML-SAR-001 - Maintain STR/SAR Process to CTIF-CFIAML-TM-001 - Deploy Transaction Monitoring System with Calibrated Alert RulesAML-TRN-001 - Deliver Mandatory AML/CFT Training ProgrammeAMLD6-A11-001 - Enhanced Customer Due Diligence ProgrammeAMLD6-A18-001 - PEP Identification and Enhanced Due DiligenceAMLD6-A3-001 - ML Offence Scope — Internal Legal Coverage AssessmentAMLD6-A3-002 - Predicate Offence Transaction Monitoring RulesAMLD6-A33-001 - Suspicious Transaction Reporting to CTIF-CFI