Client due diligence process workflow

The following Practice Compliance precedent provides comprehensive and up to date legal information covering:

  • Client due diligence process workflow

Client due diligence process workflow

This Precedent Flowchart can be issued to staff to explain your process for conducting client due diligence (CDD) on new and existing clients. It is intended to help you comply with the CDD requirements of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended. This workflow dovetails with the New client, New matter, CDD client risk assessment and CDD matter risk assessment form Precedents in the Client matter and inception subtopic.

Precedents referred to

This workflow refers to the following Precedents:

  1. CDD client risk assessment form—law firms

  2. CDD matter risk assessment form—law firms

  3. New client form

  4. New matter form

  5. Client due diligence matrix

  6. File information form

  7. Matter project plan

  8. AML and counter-terrorist financing policy—law firms

Other Precedents that may be of use include:

  1. Establishing the source of funds and source of wealth—guidance table for staff

  2. Source of funds/wealth statement

  3. Source of funds/wealth investigation record

  4. Third party funds investigation record

  5. Table of high-risk third countries

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