Anti-Money Laundering · glossary
The checks a firm must make before it acts: who the client is, who owns or controls it, and what the deal is for. The Regulations call it customer due diligence. On a high-risk matter, CDD is complete only when every enhanced check is done. Matter Opening Checklist, paragraph 4 · Chapter 1 · see Enhanced due diligence
Explained in Chapter 1, What Anti-Money Laundering Means in a Law Firm, of Anti-Money Laundering.
Also explained in Crypto-Asset Regulation.
Law firms call the checks the Regulations require client due diligence (CDD). The Regulations say “customer due diligence”.Read Chapter 1, What Anti-Money Laundering Means in a Law Firm →
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