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Customer due diligence (CDD) and Financial crime – Overview

The term ‘financial crime’ refers to a broad set of legislation requiring that Financial Institutions (FIs) proactively monitor their clients in order to prevent illicit funds passing through their accounts. A key component of the financial crime control framework is CDD which refers to the due diligence that FIs must perform to identify their clients and ascertain relevant information pertinent to doing business with them throughout the life of the relationship. 

CDD - Why is this important to get right?


Testing Considerations



Testing considerations


Challenges for Testing



Challenges for testing

KPMG’s unique mix of testing specialists, industry SMEs and ‘Accelerated Testing’ framework can reduce the cost of change by up to 25%. For more information on how KPMG can help testing your CDD and Financial Crime implementation, please get in touch.

Daryl Elfield - Partner, Testing Services

T: +44 (0)20 7311 6330

E: daryl.elfield@kpmg.co.uk

Victoria Brown - Partner, CDD & Financial Crime

T: +44 (0)20 7694 1457

E: victoria.brown2@kpmg.co.uk