Text for AML Update Service
AML Update: Enhanced Due Diligence
Purchase this policy: Anti-Money Laundering Policy
- Change date
- 19/06/2024
- Word count
- 392
- Deployment measure
- 7/10
Rationale
Enhanced due diligence (EDD) must now be applied in any situation where the transaction is either complex or unusually large. Previously, EDD only needed to be applied where all of the criteria applied.
We must carry out ‘enhanced due diligence’ in any case where in any situation where the transaction is either complex or unusually large. The law includes the following risk indicators: - We are dealing with a person established in a
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