14/10/2026
Bringing a new client on board isn’t just about agreeing the work and getting started.
Customer due diligence is an important part of the onboarding process and helps you understand exactly who you’re doing business with.
So, what can those checks involve?
- Verifying the client’s identity
- Identifying the beneficial owners of a business
- Understanding the ownership and control structure
- Establishing the purpose and nature of the business relationship
- Understanding where funds may be coming from, where appropriate
- Assessing the level of risk associated with the client
The level of due diligence required will depend on the client and the level of risk involved. Higher-risk situations can require enhanced checks.
Knowing whom you’re working with helps protect your business and ensures you meet your responsibilities under anti-money laundering regulations.
Need support with your financial processes and controls?
Get in touch with SyPro Financial Consultancy 📧 [email protected]