What is aml how cdd and edd are conducted

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AML stands for Anti-Money Laundering. CDD (Customer Due Diligence) and EDD (Enhanced Due Diligence) are processes conducted to identify and verify customers to prevent money laundering and terrorist financing.

AML is a set of regulations and procedures designed to prevent money laundering and terrorist financing.
CDD involves verifying the identity of customers, assessing their risk level, and monitoring their transactions.
EDD is conducted for high-risk customers and involves gathering additional information to better understand the customer's risk profile.
Examples of CDD measures include verifying customer identity through documents like passports or driver's licenses.
Examples of EDD measures include conducting background checks on high-risk customers and monitoring their transactions more closely.

What is aml how cdd and edd are conducted

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