What is the difference between CDD and EDD?

Detailed Explanation

Customer Due Diligence (CDD) is standard identity verification and risk assessment applied to low- and medium-risk accounts. Enhanced Due Diligence (EDD) is an in-depth investigation into Source of Wealth, beneficial ownership, and operational counterparties required for high-risk accounts, such as Politically Exposed Persons (PEPs) or entities tied to high-risk jurisdictions.