Good work by Kevin Irikefe on putting together a guide with a number of excellent questions to better understand the customer and get to the heart of what risk may be lurking behind a transaction and irregular activity that could signal fraud is being carried out.
Kelvin Irikefe – CAMS, MSc., B.L, LL.B
CAMS Certified | AML & Financial Crime Compliance Analyst | Business Analytics | Strengthening Governance & Regulatory Readiness.
Good CDD starts with better questions.Collecting documents is important, but it is only one part of effective Customer Due Diligence.The real value of CDD lies in asking the right questions, understanding the customer, assessing the risks and identifying inconsistencies that may require further investigation.I have put together 40 practical CDD questions covering:
• Customer identity and ownership
• Business activities and expected behaviour
• Source of funds and source of wealth
• Transaction activity
• Risk indicators and red flags
• Documentation and ongoing monitoring.
This guide is designed as a practical reference for AML analysts, KYC professionals, compliance officers, legal teams, financial crime investigators and anyone involved in customer risk assessment.
Save it, share it and use it as a reference during your next CDD review.What is one CDD question you believe every AML professional should ask?
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