Enhanced Due Diligence Solutions - Strategic Acquisition Team
Safe investing with a thorough understanding of risk. Buyers must do extensive due diligence across an increasing range of risks to ensure success, from having the resources required to negotiate a best-in-class transaction to setting the path for a seamless integration or developing a new platform for future development.
To explore how the Strategic Acquisition Team can provide you with more control over the process, enable you to make quicker, better choices while reducing risk, and lower third-party management expenses, contact us now.
- Countries that engage in, sponsor, or support terrorism or host specifically listed terrorist groups
- Private banking
- Payments from unidentified or unrelated third parties, anonymous or non-face-to-face transactions, or commercial connections
Additional due diligence may be required for politically exposed persons (PEPs). Therefore, FIs should use a risk-based strategy when deciding which controls to implement and for how long.
What Is the Process for Enhanced Due Diligence?
Companies should adopt risk-based EDD measures that consider every client’s unique recommendation. These should contain the following:
- Obtaining more forms of consumer identification.
- Identifying the money’s or wealth’s source.
- Examining a business relationship’s specifics or a transaction’s goal more closely.
- Putting in place routine monitoring processes.
Enhanced due diligence will be a standard component of many of the listed individuals and organizations’ relationships with businesses.
Frequently Asked Questions:
What is the Difference Between CDD and ECDD?
Different levels of the know-your-customer (KYC) procedures that companies carry out on their clients are called customer due diligence (CDD) and enhanced due diligence (EDD). Regulatory bodies require them for many different businesses, but financial services are where they are most common.
Who is Subject to Enhanced Due Diligence?
EDD is required for consumers more likely to be involved in money laundering or terrorism funding, increasing the banks’ liability to such customers.
What are Red Flags in Due Diligence?
A “Red Flag” is crucial information that seems to conflict with or out of the ordinary concerning the law or possible liabilities of the target firm that, if left neglected, may subsequently provide unexpected hazards or dangers to the acquirers.
Strategic Acquisition Team
800 Main St., Hilton Head Island, SC 29926
843-671-4201