Customer Due Diligence (CDD): CDD is the process of obtaining and analyzing sufficient customer information to understand the nature and purpose of customer relationships for the purpose of developing a customer risk profile. This involves identifying the customer, conducting ongoing monitoring to identify and report suspicious transactions and, on a risk basis, to maintain and update customer information, including information regarding the beneficial owner(s) of legal entity customers.

Enhanced Due Diligence (EDD): Certain customers pose higher financial crimes risk for financial institutions and other organizations due to the nature of their organization, business activities, affiliations or transactions. As such, these customers and their transactions need to be reviewed closely at account opening and more frequently during their account relationships. FinClusive’s EDD includes embedded tools to conduct adverse and social media checks, source of wealth, deep/dark web searches, litigation/legal research and bespoke intelligence and offline data retrieval.