Does due diligence apply to online account opening?

Answered by:

Question:

Should we go through our due diligence questions for online account opening?

Answer:

Yes, most financial institutions do a poor job in sorting out due diligence on account opening and since opening online has more risk, it should be the reverse.
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Learn more about Deborah Crawford’sOpening Deposit Accounts Online—CIP, CDD, Compliance and Risk webinar.