Chapter 31 Flashcards
(2 cards)
1
Q
What are the components of good CDD?
A
- Identifying the client
- verifying the client
- Identifying the beneficial owners
- on a risk sensitive basis verify the BO(s) [beneficial owners)
-gather information on the intended purpose and nature of the business
2
Q
What are the three stages of CDD?
A
Identification
Risk assessment
Verification
