Bank Secrecy Act for Managers: 06. Enhanced Due Diligence
6 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
The USA PATRIOT Act introduced enhanced due diligence for customers who pose a higher risk of money laundering or terrorist financing, requiring a deeper level of review.
What this course covers:
- What enhanced due diligence (EDD) means and where it comes from
- How EDD builds on your customer due diligence (CDD) program
- The customers and organizations that require EDD
- What a deeper risk analysis looks like in practice
Ideal for banking managers and compliance staff conducting high-risk customer reviews.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
The course explains what enhanced due diligence, or EDD, means and traces its origin to the USA PATRIOT Act's requirements for higher-risk customers, giving managers the legal background behind the deeper review process they are expected to run.
This module covers how EDD builds on your customer due diligence, or CDD, program, showing managers the relationship between the two review levels and when a case needs to move from standard review to enhanced scrutiny.
The course identifies the customers and organizations that require EDD, giving managers criteria for deciding when the deeper review level applies rather than leaving that judgment call to instinct or inconsistent practice from branch to branch.
Learners are shown what a deeper risk analysis looks like in practice, translating the EDD concept into the concrete steps of an actual review a manager would run on a flagged, higher-risk customer relationship over time.
This course is ideal for banking managers and compliance staff conducting high-risk customer reviews under enhanced due diligence requirements introduced by the USA PATRIOT Act and expanded on throughout the Managers series on BSA compliance.
