Customer due diligence

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Customer due diligence (CDD), also known as Know Your Customer (KYC), is a crucial part of the fight against financial and economic crime. Insufficient insight into and checks on the integrity of (potential) clients and other business relations can lead to reputational damage, substantial fines and even criminal prosecution.

Setting up and organizing an effective acceptance process in respect of business relations is a complex task, in which many institutions lack the necessary knowledge. Charco & Dique can support you in this, or take the process completely out of your hands. This way you will always comply with laws and regulations, and your good reputation will be preserved.

Our approach

Our specialists have detailed and up-to-date knowledge of the Wwft. They also have extensive experience in providing support with CDD tasks, both for accepting new clients and establishing other business relationships. They can help you with:

  • A risk analysis of your organization and the interpretation of the Wwft and Sanctions Act requirements;
  • Drawing up, optimizing and implementing KYC/CDD policies and procedures;
  • Screening business relations against the Sanctions and PEP lists and conducting an adverse media check;
  • Conducting Customer due diligence;
  • Conducting or validating CDD remediation projects;
  • Conducting transaction monitoring.