CUSTOMER DUE DILIGENCE
Practical day-to-day risk mitigation
Practical day-to-day risk mitigation
CDD Enhancements: cost-effective improvements
Identifying simple and effective enhancements for your existing customer engagement process (such as electronic identity verification) can help minimise risks facing your business without the cost of major change through a formal customer due diligence program. Contact us for details.
Opportunity to build capability
With enhancements to your existing customer engagement process your business is saved the cost of an extensive formal mandatory Customer Due Diligence Program that applies currently to banks.
Leading professional services firms should – for reasons of prudence, best practice, reputation and competitive advantage – begin incorporating some of the capabilities that are becoming standard New Zealand business practice. Banks had more than three years to prepare. Professional services firms may have as little as a year or so to prepare for the biggest change to their operations in decades..
Although financial institutions must comply in the full glare of regulatory oversight, transitionally exempt businesses have the benefit of a brief window of opportunity to build AML/CFT awareness, expand operational capabilities and ensure no hidden surprises before mandatory reporting and regulatory supervision applies to their operations.
Identifying simple and effective enhancements for your existing customer engagement process (such as electronic identity verification) can help minimise risks facing your business without the cost of major change through a formal customer due diligence program. Contact us for details.
Opportunity to build capability
With enhancements to your existing customer engagement process your business is saved the cost of an extensive formal mandatory Customer Due Diligence Program that applies currently to banks.
Leading professional services firms should – for reasons of prudence, best practice, reputation and competitive advantage – begin incorporating some of the capabilities that are becoming standard New Zealand business practice. Banks had more than three years to prepare. Professional services firms may have as little as a year or so to prepare for the biggest change to their operations in decades..
Although financial institutions must comply in the full glare of regulatory oversight, transitionally exempt businesses have the benefit of a brief window of opportunity to build AML/CFT awareness, expand operational capabilities and ensure no hidden surprises before mandatory reporting and regulatory supervision applies to their operations.