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Customer Due Diligence Form

Customer Due Diligence Form Template for India

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Key Requirements PROMPT example:

Customer Due Diligence Form

"I need a Customer Due Diligence Form for our bank's new digital onboarding platform launching in March 2025, with enhanced sections for cryptocurrency transactions and international wire transfers."

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Document background
The Customer Due Diligence Form is a mandatory document required by Indian financial institutions and regulated entities to establish and verify the identity of their customers. It is designed in accordance with the Prevention of Money Laundering Act 2002, RBI Master Directions on KYC, and other relevant Indian regulations. The form serves as a crucial tool for collecting comprehensive information about customers, including their personal details, financial status, and risk profile. It helps organizations comply with regulatory requirements while mitigating risks related to money laundering, terrorism financing, and other financial crimes. The document is regularly updated to reflect changing regulatory requirements and emerging risks in the Indian financial sector.
Suggested Sections

1. Form Information: Form number, date, branch details, and purpose of the CDD form

2. Basic Customer Information: Name, date of birth/incorporation, nationality/place of incorporation, and contact details

3. Identity Verification: Government-issued ID details, including type, number, issuing authority, and validity

4. Address Details: Current residential/business address, permanent address, and proof of address details

5. Occupation Details: Employment status, nature of business/occupation, annual income range

6. Financial Information: Source of funds, expected transaction volumes, and banking relationships

7. Risk Assessment: Risk categorization factors including PEP status, high-risk jurisdiction connections

8. Declaration: Customer declaration of information accuracy and consent for verification

9. For Official Use: Risk category assignment, verification status, and approving authority details

Optional Sections

1. Entity Structure Details: For non-individual customers: ownership structure, control, and beneficial ownership information

2. Related Party Information: Details of authorized signatories, directors, partners, or trustees

3. International Tax Reporting: FATCA/CRS declarations for customers with foreign tax residency

4. Enhanced Due Diligence: Additional information required for high-risk customers or complex ownership structures

5. Digital Banking Preferences: Optional section for customers requesting digital banking services

6. Additional Services: Section for customers interested in additional products or services

Suggested Schedules

1. Schedule A - Required Documents Checklist: List of mandatory and additional documents required for different customer types

2. Schedule B - Risk Assessment Matrix: Detailed criteria for customer risk categorization

3. Schedule C - Beneficial Ownership Declaration: Format for declaring beneficial ownership details for entities

4. Appendix 1 - Terms and Definitions: Definitions of key terms used in the form

5. Appendix 2 - Privacy Notice: Details of how customer information will be used, stored, and protected

6. Appendix 3 - Guidance Notes: Instructions for filling out different sections of the form

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Aadhaar Number
Beneficial Owner
Central KYC Records Registry (CKYCR)
Certified Copy
Customer
Customer Due Diligence (CDD)
Digital KYC
Officially Valid Document (OVD)
Permanent Account Number (PAN)
Person of Indian Origin (PIO)
Politically Exposed Person (PEP)
Proof of Address
Proof of Identity
Regulated Entity
Related Person
Resident Individual
Risk Category
Senior Management
Shell Bank
Suspicious Transaction
Ultimate Beneficial Owner
Video based Customer Identification Process (V-CIP)
Walk-in Customer
Wire Transfer
Non-Resident Indian (NRI)
High Risk Countries
Identity Information
Legal Person
Natural Person
Non-face-to-face Customer
Controlling Interest
Due Diligence
Enhanced Due Diligence (EDD)
Foreign Account Tax Compliance Act (FATCA)
Common Reporting Standard (CRS)
Know Your Customer (KYC)
Clauses
Personal Information
Identity Verification
Address Details
Financial Information
Consent and Declaration
Privacy Notice
Data Protection
Information Sharing
Document Requirements
Risk Assessment
Beneficial Ownership
Tax Residency
Transaction Profiling
Politically Exposed Person Status
Source of Funds
Source of Wealth
Business Activities
Banking Relationships
Sanctions Screening
Enhanced Due Diligence
Information Updates
Document Retention
Compliance Declaration
Third Party Verification
Electronic Communication Consent
Record Keeping
Regulatory Disclosure
Authentication Methods
Digital Verification
Foreign Account Reporting
Relevant Industries

Banking

Financial Services

Insurance

Investment Services

Securities Trading

Non-Banking Financial Companies

Fintech

Real Estate

Precious Metals and Jewelry

Professional Services

Cryptocurrency and Digital Assets

Relevant Teams

Compliance

Risk Management

Customer Onboarding

Operations

Legal

Front Office

Customer Service

Anti-Money Laundering

Account Opening

Regulatory Reporting

Relevant Roles

Compliance Officer

Risk Manager

KYC Analyst

Customer Onboarding Specialist

Branch Manager

Relationship Manager

Due Diligence Officer

AML Specialist

Customer Service Manager

Operations Manager

Account Opening Officer

Regulatory Reporting Officer

Financial Crime Analyst

Industries
Prevention of Money Laundering Act, 2002: The primary legislation that mandates KYC and CDD requirements for financial institutions and other entities in India. It sets out the basic framework for customer identification and verification procedures.
RBI Master Direction on KYC, 2016 (Updated periodically): Detailed guidelines from the Reserve Bank of India specifying customer acceptance policies, risk management, customer identification procedures, and transaction monitoring.
Companies (Significant Beneficial Owners) Rules, 2018: Rules requiring identification and verification of beneficial owners holding significant stakes in corporate customers.
Information Technology Act, 2000: Governs the collection, storage, and protection of electronic data, including customer information collected during CDD process.
SEBI KYC Registration Agency Regulations, 2011: Specific requirements for KYC documentation and verification in securities market transactions.
Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016: Regulations regarding the use of Aadhaar for customer identification and verification purposes in CDD processes.
Foreign Exchange Management Act, 1999: Requirements for customer due diligence in foreign exchange transactions and cross-border business relationships.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Enhanced Due Diligence Form

A comprehensive Enhanced Due Diligence Form compliant with Indian regulatory requirements for detailed customer assessment and risk evaluation.

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Customer Due Diligence Form

An Indian regulatory compliance document for customer verification and risk assessment under PMLA 2002 and RBI guidelines.

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Additional Due Diligence Form

An India-compliant Additional Due Diligence Form for comprehensive entity verification and risk assessment under Indian regulatory framework.

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