What is Customer Due Diligence?
Customer Due Diligence or CDD, is the process where relevant information about the customer is collected and evaluated for any potential risk for the organisation or money laundering/terrorist financing activities.
The Company Compliance screen will help you in complying with the Anti-Money Laundering/Countering Financing of Terrorism and Client Due Diligence (CDD) requirements for your Company.
Navigation
| From the Main Toolbar, go to Company. |
|
| Select the Company from the list. |
|
| Select Compliance |
As you progress through the CDD Process, CAS 360 will keep you posted on sections that are still required to be completed. Completed areas are highlighted in Green whilst incomplete sections are Greyed.
Clickand
to navigate through the sections.
You can always save your progress by clicking:
The option to download the Compliance Report or all relevant documents is also available:
Steps
1. CDD Required
To begin, confirm whether Compliance & Due Diligence is required.
Toggling to the question Compliance & Due Diligence Required? will open further steps.
| Start Date | The date you will be starting the CDD process for the entity |
| Completed Date | The date you completed the CDD process for the entity |
| Compliance Officer |
Begin typing the Compliance Officer name. CAS 360 will begin searching the Global Contact screen for the person. If the Contact has not been previously added to the Global Contact screen, Click |
| Upload Supporting Documents | Upload any supporting documents appropriate for the CDD process for the entity |
2. Nature of Business Relationship
| Select from a range of options the business relationship between you and the entity. If required, click |
3. Source of Funds
Toggling to the question Source of Funds required? will open further steps.
| Free Text | Enter any Free Text relevant to the Source of Funds in the text box. |
| Uploading Support Documents | Upload any supporting documents, either by drag and drop or browsing for files. |
4. Individuals
The individuals section will list all Members and Officers of the entity.
Also, hover your cursor over the information icon . Users will be able to instantly see the individual's:
-
Name
-
Address
-
Date of Birth
-
Place of Birth
-
Mobile Number
- Company Number
- NZBN
To edit any of these details, select
| Question: Compliance & Due Diligence Required? | Toggle |
5. Risk Assessment
|
Select from a range of different Risk Options. Click Once a Risk Option has been selected, CAS 360 will make available a free text section for you to be able to add any further information. Any supporting documents can also be attached to a risk option Note: Both text box and Supporting documents are not mandatory fields. |
|
|
Question: Having reviewed the above risk areas, the overall risk rating for the client is |
Rate the entity risk level |
|
Standard customer due diligence This involves identifying the customer, and ensuring it is based on a reliable independent source. The purpose and intended nature of the business relationship or transaction must be assessed and further information obtained where appropriate. Simplified customer due diligence This can be applied when a risk assessment has shown a negligible or low risk of money laundering. The only requirement is to identify the customer and there is no need to verify the customer’s identity. Enhanced customer due diligence Enhanced CDD must be applied when the risk of money laundering is high, such as if the person in question is a politically exposed person. |
6. Notes
Additional findings arising throughout the course of the AML/CDD workflow can be recorded here.
To begin recording additional findings, click
CAS 360 will display the Add Note window.
Each note can have a title and the note content. CAS 360 will also display a time stamp to show when the note was last modified.
Notes can be deleted by selecting beside the note.
Click to add any additional notes.
Click to save note.
7. Risk Review
| Select, from a list of your CAS 360 users, the user completing this CDD process | |
| Date the CDD process has been completed | |
| Date the next CDD process will be required |
At Step 7 – Risk Review, you have the option to . Clicking this button sends the compliance report to a designated team member using CAS 360’s Document Review feature.
- The reviewer will receive a notification and can either approve or return the document.
- Once approved, the record can be marked as complete.
- Optionally, set the Next Review Required date for future compliance reviews.
This feature is optional but highly recommended for teams with internal compliance workflows or designated compliance officers.
If Compliance & Due Diligence is not required
Leave the 'Compliance & Due Diligence Required?' toggled to no and complete the following fields:
| Date the next CDD process will be reviewed. | |
| Reviewer's note | Enter in the reasoning for why the company/trust does not need to be CDD process to be completed. |
| Upload Supporting Documents | Upload any supporting documents to provide evidence for the reason to not process CDD for the entity. |