Enhanced Due Diligence Checks

Enhanced Due Diligence Checks are almost necessary in many circumstances, so go with responsible gambling consultancy for your needs!

These checks are almost always required when there is a possibility that the combination of the customer and the service you offer can be a high risk, with the Enhanced Due Diligence Checks helping to migrate the increased risk. When we refer to a high-risk situation, we are referring to a situation where there is an increased opportunity for funds to be embezzled for laundering or the funding of terrorism through the product or service you are providing your customer.

What the Enhanced Due Diligence Checks actually entail is completely dependent and tailored to your business’s needs, as well as the nature and severity of all the relevant risks involved. The checks could be anything from gathering additional information to verify the customers identity or source of income or perhaps 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.

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.

So as you can see, when it comes to this, we are experts, this is thanks to the fact that we are industry professionals.