Simplified Customer Due Diligence

Permitted where risks are low — verifying identity after the relationship is established, reducing the frequency of identification updates, reducing ongoing monitoring based on a reasonable monetary threshold, and…

This one is not written up yet

The definition above is the short version. A full explanation — how it works, a worked example and the exam traps — is still being written. In the meantime the chapter below covers it in context.

Written up from the same chapter

Enhanced Due DiligenceThe additional customer due diligence a Regulated Entity must perform where ML/TF risk is high — including source of wealth, Senior Management approval and enhanced ongoing monitoring.

Where this is taught

Series IFSCA-01 · Chapter 6: IFSCA Guidelines for KYC Norms

Free preparation for NISM Series IFSCA-01

Related terms

Enhanced Due DiligenceThe additional customer due diligence a Regulated Entity must perform where ML/TF risk is high — including source of wealth, Senior Management approval and enhanced ongoing monitoring.

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