Banking
A regulatory requirement obligating banks and financial institutions to verify the identity and assess the risk of customers as part of AML/CFT controls.
Quick answer: A regulatory requirement obligating banks and financial institutions to verify the identity and assess the risk of customers as part of AML/CFT controls.
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A regulatory requirement obligating banks and financial institutions to verify the identity and assess the risk of customers as part of AML/CFT controls.
Customer Due Diligence matters because it supports clear communication in Banking contexts for Financial Analysts, Bankers, and Traders. It also connects to aviation training and exam language such as CFA, ACCA, and FRM.
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Questions and answers
In this glossary, Customer Due Diligence refers to: A regulatory requirement obligating banks and financial institutions to verify the identity and assess the risk of customers as part of AML/CFT controls.
In finance communication, this term appears in contexts such as: "Customer due diligence is mandatory before opening an account and during the entire business relationship as per FATF guidelines."
Customer Due Diligence matters because it supports clear communication in Banking contexts for Financial Analysts, Bankers, and Traders. It also connects to aviation training and exam language such as CFA, ACCA, and FRM.
Customer Due Diligence is mainly used by Financial Analysts, Bankers, and Traders.
In this glossary, Customer Due Diligence is grouped under Banking. Related pages in this category explain adjacent procedures, commands and operational concepts.
This definition is sourced from CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework and published by Protermify Finance as a static finance reference page.
A regulatory requirement obligating banks and financial institutions to verify the identity and assess the risk of customers as part of AML/CFT controls.
Customer due diligence is mandatory before opening an account and during the entire business relationship as per FATF guidelines.
English reference definition
CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
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