The Enhanced Due Diligence Form is a critical compliance document used by financial institutions and regulated entities in India to conduct thorough assessments of high-risk customers and business relationships. This document is mandated by Indian regulatory authorities, particularly for situations requiring enhanced scrutiny under the Prevention of Money Laundering Act (PMLA) 2002 and RBI guidelines. The form is specifically designed to capture detailed information about customers' business activities, ownership structures, risk profiles, and financial patterns. It is particularly crucial for transactions involving politically exposed persons (PEPs), high-risk jurisdictions, or complex business structures. The document ensures compliance with both domestic Indian regulations and international AML/CFT standards, making it an essential tool for risk management and regulatory compliance.
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1. Basic Information: Entity/individual name, registration details, contact information, and basic identification data
2. Business Profile: Nature of business, industry sector, operational history, and business model overview
3. Ownership Structure: Details of shareholders, beneficial owners, and group structure including ownership percentages
4. Management Information: Details of directors, key management personnel, and their background information
5. Financial Information: Financial statements, revenue sources, major business partners, and banking relationships
6. Risk Assessment: Risk categorization criteria, risk scores, and justification for risk classification
7. Transaction Profile: Expected transaction patterns, volumes, and nature of anticipated business activities
8. Regulatory Compliance: Licensing, registrations, and regulatory status across relevant jurisdictions
9. AML Controls: Internal AML policies, compliance procedures, and control mechanisms
10. Declaration: Signed declaration of information accuracy and commitment to update material changes
1. Political Exposure Assessment: Additional scrutiny for Politically Exposed Persons (PEPs) and their associates
2. International Operations: Details of cross-border activities and presence in high-risk jurisdictions
3. Sanctions Screening: Enhanced screening against various sanctions lists and adverse media
4. Ultimate Beneficial Owner Special Declaration: Additional declarations for complex ownership structures or offshore entities
5. Source of Wealth Documentation: Detailed assessment of wealth sources for high-net-worth individuals or complex structures
6. Related Party Information: Information about associated entities and business relationships
7. Industry-Specific Requirements: Additional information based on specific industry regulations (e.g., real estate, precious metals)
1. Schedule A - Document Checklist: List of required documents and supporting evidence for verification
2. Schedule B - Risk Assessment Matrix: Detailed risk scoring criteria and assessment methodology
3. Schedule C - Beneficial Ownership Chart: Visual representation of ownership structure and control relationships
4. Schedule D - Transaction Monitoring Parameters: Specific parameters and thresholds for ongoing monitoring
5. Appendix 1 - Supporting Documents: Copies of incorporation documents, licenses, and identification proof
6. Appendix 2 - Compliance Certificates: Relevant regulatory compliance certificates and authorizations
7. Appendix 3 - Declaration Forms: Standard declaration forms for specific aspects (PEP status, source of funds, etc.)
8. Appendix 4 - Screening Results: Results of various screening checks (sanctions, PEP, adverse media)
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