Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the astra domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php on line 6114 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 Warning: Cannot modify header information - headers already sent by (output started at /customers/2/e/5/cware.eu/httpd.www/wp-includes/functions.php:6114) in /customers/2/e/5/cware.eu/httpd.www/wp-includes/rest-api/class-wp-rest-server.php on line 1893 {"id":5635,"date":"2024-08-31T00:00:00","date_gmt":"2024-08-30T22:00:00","guid":{"rendered":"https:\/\/www.cware.eu\/?p=5635"},"modified":"2024-09-03T21:45:48","modified_gmt":"2024-09-03T19:45:48","slug":"fighting-dirty-money-with-enhanced-due-diligence","status":"publish","type":"post","link":"https:\/\/www.cware.eu\/fighting-dirty-money-with-enhanced-due-diligence\/","title":{"rendered":"Fighting Dirty Money With Enhanced Due Diligence"},"content":{"rendered":"

Every year, more than $2tn worth of illicit cash flows into the global financial system despite the efforts of financial institutions and regulators to prevent money laundering and terrorist financing. To combat dirty money enhanced due diligence (EDD) is a process that requires a thorough Know Your Client (KYC) that is a deep dive into customers and transactions with greater fraud risks.\n<\/p>\n

EDD is regarded as having a higher screening level than CDD and may include more information requests, including sources and corporate appointments, money, and relationships with individuals or companies. It also often involves more thorough background checks, such as media searches to discover any public or reputational evidence of misconduct or criminal activities that could pose a risk to the bank’s business.\n<\/p>\n

The regulatory bodies have guidelines for when EDD should be triggered. This is usually based upon the kind of transaction or customer, as well whether the person involved is politically exposed (PEP). However, it is ultimately the responsibility of each FI to make a personal judgment call about what triggers EDD in addition to CDD.\n<\/p>\n

The most important thing is to establish effective policies that make clear to employees what EDD is and what it doesn’t. This will help to avoid situations that are high-risk and could lead to hefty fines for fraud. It’s also crucial to have an accurate identity verification process that can help you spot alarms such as https:\/\/warpseq.com\/best-data-rooms-online-secure-and-reliable\/<\/a> hidden IP addresses, spoofing technology and fake identities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Every year, more than $2tn worth of illicit cash flows into the global financial system despite the efforts of financial institutions and regulators to prevent money laundering and terrorist financing. To combat dirty money enhanced due diligence (EDD) is a process that requires a thorough Know Your Client (KYC) that is a deep dive into […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5635","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"_links":{"self":[{"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/posts\/5635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/comments?post=5635"}],"version-history":[{"count":1,"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/posts\/5635\/revisions"}],"predecessor-version":[{"id":5636,"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/posts\/5635\/revisions\/5636"}],"wp:attachment":[{"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/media?parent=5635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/categories?post=5635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cware.eu\/wp-json\/wp\/v2\/tags?post=5635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}