Diensten

Customer due diligence

Customer due diligence (CDD), also known as Know Your Customer (KYC), is a crucial part of the fight against financial and economic crime. Insufficient insight into and checks on the integrity of (potential) clients and other business relations can lead to reputational damage, substantial fines and even criminal prosecution.

Setting up and organizing an effective acceptance process in respect of business relations is a complex task, in which many institutions lack the necessary knowledge. Charco & Dique can support you in this, or take the process completely out of your hands. This way you will always comply with laws and regulations, and your good reputation will be preserved.

Our approach

Our specialists have detailed and up-to-date knowledge of the Wwft. They also have extensive experience in providing support with CDD tasks, both for accepting new clients and establishing other business relationships. They can help you with:

A risk analysis of your organization and the interpretation of the Wwft and Sanctions Act requirements;
Drawing up, optimizing and implementing KYC/CDD policies and procedures;
Screening business relations against the Sanctions and PEP lists and conducting an adverse media check;
Conducting Customer due diligence;
Conducting or validating CDD remediation projects;
Conducting transaction monitoring.

Wwft Awareness

Employees and daily policy makers of financial institutions should be familiar with the provisions of the Wwft and have a periodic training obligation to this end. The Wwft Awareness course of our training institute, The Ministry of Compliance, helps you to meet this obligation. By following the Wwft e-learning you will learn what the Wwft and Sanctions Act mean and which responsibilities financial enterprises have in the prevention of money laundering and terrorist financing. Using practical examples, you will learn about the financial sector as gatekeeper, customer due diligence and monitoring during the business relationship.

More about the Wwft awareness e-learning