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What client onboarding involves
An overview of customer due diligence: when the rules require it, who it applies to, and the six steps from first contact to an approved, monitored client.
2 min
Who is your client?
What to collect and check to identify an individual or a company client, and when verification must be done.
2 min
Who really owns the client?
How to find the beneficial owner, the real person behind a company or trust, using the 25% test and its fallbacks.
2 min
Screening the names
Checking clients, owners and agents against sanctions lists and for political exposure, and what to do when a name matches.
2 min
Rating the client's risk
How a client's risk rating decides whether you apply enhanced, standard or simplified due diligence.
2 min
Deciding to take them on
Who approves a new client, when to say no, relying on others' checks, and what records to keep.
2 min
Keeping the client file current
Why onboarding never really ends: ongoing monitoring, re-screening and refreshing CDD send every client back around the loop.
2 min