Large Bank Supervision Forum eBook

Internal Use Only

Customer Due Diligence . . .

1. Understand the nature and purpose of relationship in order to develop customer risk profile 2. Conduct ongoing monitoring • Identify and Report suspicious activity • Maintain and update customer information on a risk basis 3. Starts with new customer application • Types of services expected to be used • Volume and frequency of expected activities • Domestic • Foreign • Reasonableness test

CIP

CDD

BO

107

© 2023 – FinPro, Inc.

Internal Use Only

Customer Due Diligence Requirements during and after account opening . . .

108

© 2023 – FinPro, Inc.