* e-Know Your Customer Onboarding * 

Identification information, including a copy of the identity document is obtained at customer onboarding and is included in the price as shown above.

Identification is not automatically verified against a third party however is available upon request and will require a quote based upon expected volumes - if required for your sector please contact us to request a quote.

What do I need to do for Standard CDD?
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Each country's Anti-Money Laundering Act is unique and will vary across geography. Additionally, each sector governed by each act may have additional requirements prescribed by regulations. ‍When undertaking standard Customer Due Diligence (CDD), you must obtain:
(a) the person’s full name; and
(b) the person’s date of birth; and
(c) if the person is not the customer, the person’s relationship to the customer; and
(d) the person’s address or registered office; and
(e) the person’s company identifier or registration number; and
(f) any information prescribed by regulations.

You must do this for your customer, any beneficial owner of your customer and any person acting on behalf of your customer.

For your customer, you must then take reasonable steps to verify this information to be satisfied it is correct.

You must also obtain information on the nature and purpose of the proposed business relationship between you and the customer, as well as sufficient information to determine whether the customer should be subject to enhanced customer due diligence. This is an important part of CDD and assists you to assess the level of risk associated with a customer.

Avid AML obtains Standard Due Diligence information including customer nature and purpose making onboarding easier for you and your customer.