What is the difference between AML, KYC and CDD?

Anti Money Laundering (AML) is the overarching framework of requirements and regulations in which businesses must comply with. Know Your Customer (KYC) is about identifying and verifying your customer, and being able to risk-rate them. Customer due diligence is risk-based assessments and checks to understand your customers – particularly their financial situation and patterns of activity.

Take a look at our best practices pages for more detailed information.