Taking CDD to the Next Level

AML_PollResults_TakingCDDNextLevel

​Though Customer Due Diligence (CDD) and Know Your Customer (KYC) legislation has been in place for several years, both financial services firms and regulators are still struggling with these issues as the “doorway” to money laundering. According to data from the United Nations Office on Drugs and Crime1, money laundering is estimated to be a $1.5 to $2.9 trillion business, putting it among the top 10 countries by GDP. Between the threats this poses to economic and financial stability and the penalties to organizations for inadequate AML controls, firms are looking to improve the way they manage KYC/CDD processes by placing higher priority on compliance and increasing investment in technology.​

AML_PollResults_TakingCDDNextLevel

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