EDD and EDD Intel
A high-risk customer goes through Enhanced CDD (EDD) before senior management signs. EDD Intel puts the public record in front of the officer at that moment: significant adverse media about the customer, matched on more than a name, on the application review page and on the customer file.
Who uses it: Maker (gathers and proposes) · Checker (endorses) · Approver (senior management sign-off) · Compliance Officer (closes dealer-event cases) · Internal Audit (read).
Enhanced CDD (EDD)
Section titled “Enhanced CDD (EDD)”- A customer rated High — at application, at review or after an adjustment — takes the EDD route.
- The Maker gathers the source of funds and source of wealth and reviews the EDD Intel findings.
- The Maker proposes; the Checker endorses; the Approver — senior management — approves continuing or opening the relationship.
DA Dealer: EDD also opens on dealer events — the light-brown mule tier, a wallet result marked possible, and a request for withdrawal class M or L. Those cases close at the Compliance Officer.
EDD Intel
Section titled “EDD Intel”EDD Intel is a tab on the application file and on the customer file. It gathers significant adverse media from public sources: negative news that relates to the laws the customer is supervised under — anti-money laundering, securities, banking, insurance and the other predicate offences.
How it matches
Section titled “How it matches”- More than a name. The address — house number and district — is checked against every address the institution holds for that customer: registered, current and work. A province is too broad to count.
- Namesakes are set aside using the year of birth.
- One close category per finding is enough. The tab is there to bring useful information to an officer, not to label it exactly.
- Open the EDD Intel tab on the application or the customer file.
- Read each finding with its source and the address that matched.
- Weigh it in your proposal. Your judgement and your reason go on record with the decision.
What the system does or refuses
Section titled “What the system does or refuses”- Findings support judgement; they do not score. EDD Intel is not a risk factor and never changes a level by itself.
- Searching is part of the institution’s duty. The institution holds the customer’s data on a lawful basis for AML risk assessment, and uses it to search public sources.
- The Approver signs every High route; no one signs their own proposal.