AML CDD profile assessment
During the due diligence preparation for a given customer, the system executes a series of rules to determine the AML CDD profile. The profile assigned to each customer determines the content and applicability of the KYC questionnaires that the customer must answer.
The application manages the following profiles:
Contracting party (Main customer)
| Profile name | Purpose |
|---|---|
| Simplified Due Diligence (CPSDD) | Simplified version of the standard due diligence for contracting parties |
| Standard Due Diligence (CPFDD) | Complete, standard diligence for contracting parties |
| Enhanced Due Diligence (CPEDD) | Enhanced due diligence applied for contracting parties |
| No Due Diligence (NoDD) | Exempt from due diligence questioning |
Controlling party (Relevant related party)
| Profile name | Purpose |
|---|---|
| Simplified Due Diligence (RPSDD) | Simplified version of the standard due diligence for related parties |
| Standard Due Diligence (RPFDD) | Complete, standard diligence for related parties |
| Enhanced Due Diligence (RPEDD) | Enhanced due diligence applied for related parties |
| No Due Diligence (NoDD) | Exempt from due diligence questioning |
At the time of creating the KYC cases for a given party, Pega Client Lifecycle Management for Financial Services uses the AML profile to determine whether the cases must be created (SDD, FDD, and EDD profiles), or not (NoDD).
During creating a new case, the system automatically transfers the AML profile information to the KYC engine to configure the applicable KYC types for that case, and show and hide questions according to the profile. For example, an SDD form is a leaner version of the FDD form and skips more than half of the FDD questions. For more information, see KYC due diligence profile.
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