Bank Secrecy Act for Managers: 06. Enhanced Due Diligence

The USA PATRIOT Act first established the concept of "enhanced" due diligence in regard to organizations that pose a higher risk of money laundering or terrorist financing. Under the law, these businesses require a different level of evaluation than other organizations. Your existing customer due diligence (CDD) program already outlines what information will be collected and analyzed as part of the customer risk profile. So, for customers requiring enhanced due diligence, you'll be conducting a deeper analysis. In this course, we'll explore the types of customers that require enhanced due diligence and go over what that process looks like.