Demystifying Enhanced Due Diligence in International Banking and Private Banking

Gregory Dellas, CAMS, FICA

Dealing with high-risk clients, especially in international financial centers, is admittedly quite challenging. It requires effective enhanced due diligence (EDD) in order to ensure a solid understanding of the customer and the customer’s circumstances. This process becomes particularly important when offering international banking and private banking services where the risks are both high and more complex.

The paper aims to define EDD and discuss and demystify the complexities presented. It also aims to discuss the role of the auditor and the audit process in ensuring efficiency and effectiveness.

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