Enhanced Due Diligence

Determine and mitigate the risk of doing business with high-risk clients by using NameScan's Enhanced Due Diligence service for the extra checks, required by your AML/CTF program.
NameScan Enhanced Due Diligence

Know Your Customers, Manage Your Risk and
Deal with High-Risk Clients

Simplify the due diligence process

Simplify the due diligence process

Specialised due diligence to support compliance, presented in a well-structured report.

Protect your business in high-risk situations

Protect your business in high-risk situations

Enhanced Due Diligence (EDD) reports are required to acquire additional knowledge of particular customers, suppliers or third-parties when the money laundering or terrorism financing risk is high.

One product, various use cases

One product, various use cases

EDD reports are not just for complying with AML, corruption and anti-bribery regulations, they can also be used ahead of a merger or joint venture.

Detailed due diligence reports

Detailed due diligence reports

Access detailed, accurate information, consolidated by a global team of research analysts.

What is Enhanced Due Diligence
(EDD)?

EDD is a key step in the Know Your Customer (KYC) and Customer Onboarding journey, which are both key facets of the Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) regulations.

EDD adds another layer of protection, when dealing with customers identified as high risk, and refers to the process of gathering extra information and performing additional verification prior to conducting business with them.

How is EDD different to the traditional KYC process? The differences are many, EDD is a much more detailed process. It involves gathering additional information, from the customer or third party sources, to clarify customer or beneficial owner information, identify the customer’s and/or beneficial owners’ source of wealth and funds. EDD also includes more detailed analysis of the customer’s identification (KYC) information by verifying or re-verifying it.

Enhanced Due Deligence

What's included in an EDD Report?

Sample reports are available to show you what to expect.
Select the level of investigation that you would like performed for your
customer and leave the rest to us.

Light Report

Light Report
(Individuals)

Report available in 3 days

Report Contains:

Personal Identifiers
Personal Background
Source of Wealth
Personal & Business Associations
Potential Risk Factors
Comprehensive Report Individuals

Comprehensive Report
(Individuals)

Report available in 8 days

Report Contains:

Occupation and Business Background
Corporate Interests
Jurisdiction Risk - Country Report
Jurisdiction Risk Matrix
Highlights & Risk Matrix
Relationship Map
Comprehensive Report Business

Comprehensive Report
(Business)

Report available in 11 days

Report Contains:

Corporate Identifiers
Company Directors and Ultimate
Beneficial Owner/s
UBO Source of Wealth
Subsidiaries & Related Entities

The importance of EDD

To satisfy regulators, companies are required to have an AML/CTF program, which states the actions that they will take when the risk of being involved in money laundering or terrorism financing is high. EDD is an essential component of any company's AML/CTF program required to support decision making on how to manage the risk of dealing with high risk or high-net-worth customers. Typically, these are customers who are acting suspiciously; or where it has been determined through risk-based systems and controls that the money laundering risk is high; or where the service being provided is for a customer who is (or has a beneficial owner who is) a foreign politically exposed person (PEP); or the person or a company performing a transaction has a presence or is incorporated in a prescribed foreign country.

The purpose of EDD is to provide an extra layer of security, when doing business with high risk customers, to determine the specific nature of the risk that would not be detected by the standard KYC process. EDD involves making extra checks on a customer's identification, collecting additional information and performing further verification, to help you determine if any suspicious matters need to be reported. It plays an important role in detecting, disrupting and preventing money laundering and terrorism financing. It also protects your business or organisation from being exploited for criminal activity.

The importance of EDD

Primary source company intelligence via Know Your Business (KYB) Solution

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