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Enhanced Due Diligence (EDD)

Enhanced Due Diligence (EDD) is an advanced KYC due diligence process that provides further risk investigation to supplement traditional Customer Due Diligence (CDD). EDD is designed to handle high-risk customers and large transactions including: (1) Any business in a country on the High-Risk Third Countries list; (2) Politically Exposed Persons (PEPs) or their close circles, such as family members; (3) Companies that funded terrorist activities and blacklisted; (4) Private and correspondent banking; (5) Companies in sectors with a higher risk of money laundering, such as gambling: (6) Shell corporations. EDD procedures lower the chances of money laundering and terrorist financing through organizations by detecting and investigating high-risk customers and suspicious transactions.