5 Questions
Which of the following is NOT a requirement for enhanced due diligence (EDD) for a legal person?
Conducting a background check on the customer's shareholders
What does EDD stand for?
Enhanced Due Diligence
What approach do EDD investigations adopt?
Risk-based approach
What is the purpose of EDD in determining the beneficial owners and controllers of a customer?
To satisfy local regulatory requirements
What might be included in the policies and procedures for EDD?
A search of local or international press archives
Test your knowledge on enhanced due diligence (EDD) for legal persons in this quiz. Learn about the importance of understanding your customer's business, conducting further fact-finding, and verifying disclosed information. Explore the policies and procedures necessary for effective EDD.
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