Fraud

What Is Customer Due Diligence (CDD) and Why It Matters

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In the past couple of years, you’ve probably heard the term due diligence or customer due diligence. Are you looking for a customer due diligence definition? How does this affect companies? And is every company affected? When should customer due diligence be performed?

What Does Know Your Customer (KYC) Mean in Banking?

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The (KYC) Know Your Customer definition defines the phrase as a set of regulatory standards used in the finance industry to verify the identity of a customer or a client. The main purpose of the Know Your Customer rule is to stop certain illegal activities from occurring.