Advanced Due Diligence Checks

Advanced Due Diligence Checks are necessary when it comes to situations in which the combination of the customer and the product/service could be considered a greater risk, with the advanced due diligence checks helping to ensure there is less of a risk. When we talk about a high risk situation, we are referring to one where there is much more of a chance and opportunity for the financing of terrorism or money laundering through the product or service you offer to your clients.

What our Advanced Due Diligence Checks actually entail is completely dependant and tailored to the nature and needs of the business as well as the severity of the relevant risk. The check could be as simple as gathering additional information from the client to verify their identity and that they are who they say they are, to somewhat more complicated checks such as an income check to ensure we understand where there money is coming from, or even an adverse media check. The checks should be relative and proportionate to the level of risk identified and provide confidence that any risk has been mitigated and that the risk is unlikely to be realised.

Responsible Gambling Consultancy – Specialising in Advanced Due Diligence Checks!

There are a number of situations that can be counted as high risk such as where you do not meet your customer face to face or where you are dealing with a politically exposed person.  A high risk customer does not mean that they will be involved in money laundering or other criminal activity but that there is an increased opportunity to be involved.

If after reading the above, you find your business falls into the category of likely needing this, then why not get in touch for further discussion?