Why combine onboarding and EDD forms?
In practice, customers do not experience onboarding and EDD as separate products. They are all part of the same customer due diligence documentation process. A standard customer may only need basic KYC/CDD forms, while a higher-risk customer may require UBO, PEP, source of wealth, source of funds or EDD information.
What may be included?
- Individual Customer KYC Form.
- Company Customer KYC Form.
- Agent or authorised person information form.
- Beneficial owner information form.
- PEP information form.
- EDD information form for higher-risk customers.
- Notes for completing information forms.
How the forms support compliance
These forms help TCSPs document customer identity, purpose and intended nature of the business relationship, beneficial ownership, authority to act, PEP status, source of funds, source of wealth and higher-risk customer information.
When this add-on is useful
This add-on is suitable where a client’s existing onboarding process is inconsistent, where forms are outdated, or where the client needs a clearer record pack for internal review and regulatory readiness.