Frequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions.
August 3, 2020 / Source: FinCEN
Frequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions.
The Financial Crimes Enforcement Network (FinCEN), in consultation with the federal functional regulators, today issued responses to three frequently asked questions (FAQs) regarding customer due diligence (CDD) requirements for covered financial institutions. The FAQs clarify the regulatory requirements related to obtaining customer information, establishing a customer risk profile, and performing ongoing monitoring of the customer relationship.
FinCEN Guidance CDD 508 FINAL_2.pdf
Issued Date
August 03, 2020
Financial Institution
Depository Institutions
Money Services Businesses
Securities and Futures