SCA Securities & Capital Markets Professional Licensing Exam (UAE)

What is 'customer due diligence' (CDD) in AML compliance?

Checking a customer's credit score only The process of verifying a customer's identity, understanding their business activities, and assessing the risk they pose for money laundering A marketing process to attract new customers An annual financial review of the firm

Correct Answer:

The process of verifying a customer's identity, understanding their business activities, and assessing the risk they pose for money laundering

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