Improving Investigations through the CDD and EDD Process

Author: Tyler Nicoll, CAMS-Audit

Regulatory expectations to satisfy Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) regulations continue to evolve in the U.S. and an essential component of an adequate BSA/AML program includes the responsibility for institutions to adequately know its customer base.

The purpose of this paper is to encourage institutions to enhance the information sharing processes among departments to create a more efficient suspicious activity monitoring process. In particular, this paper will demonstrate how to improve efficiencies within the suspicious activity review process by utilizing in-house information mostly gathered during the CDD and EDD processes.

Download PDF