Client Due Diligence | Ipes

Client Due Diligence

What is Client Due Diligence?

Client Due Diligence (CDD) ensures that every financial organisation understands:

  • Who its customers are

  • Why the customer is working with the organisation

  • The risks to which the customer is exposed or presents to the organisation

  • Where the customer obtained the funds involved with the organisation’s activities

This helps to minimise:

  • The ability of criminals to channel assets through the financial system

  • The ability of terrorists to obtain financing from their supporters

  • Risks to companies and the wider financial system from unscrupulous counterparties

We carry out CDD through our online platform The ID Register. We have compared the CDD requirements across multiple jurisdictions to ensure that the profiles on our system are compliant wherever they are used. We collect CDD profiles from each investor electronically in line with the applicable regulation. We risk assess each CDD profile and contact investors when we have questions. The paperless verification system uses real time sanctions screening against global sanctions and PEP lists to provide a live complete Due Diligence profile for your investors and their connected parties. We then send clients a pack for each investor which includes their profile, advisory risk assessment, evidence of identity and sanctions screening results for final review by the designated MLRO. This pack will also contain an assessment of the reporting status of each investor under US and UK FATCA.

Key contacts

Nigel Strachan

Nigel Strachan

Group Head of Business Development