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EDD Format - Revised - Oct 2024

The document is an Enhanced Due Diligence (EDD) form for both individual and non-individual customers, to be filled by branch heads. It includes sections for basic customer information, financial position, KYC compliance, field verification results, customer conduct, transaction details, and overall EDD outcomes. Guidelines for completing the form and assessing transactions are also provided to ensure thorough verification and compliance with regulations.

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Ajay Verma
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11 views3 pages

EDD Format - Revised - Oct 2024

The document is an Enhanced Due Diligence (EDD) form for both individual and non-individual customers, to be filled by branch heads. It includes sections for basic customer information, financial position, KYC compliance, field verification results, customer conduct, transaction details, and overall EDD outcomes. Guidelines for completing the form and assessing transactions are also provided to ensure thorough verification and compliance with regulations.

Uploaded by

Ajay Verma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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EDD FORM

(To be used for both Individual & Non-Individual)


(To be filled by Branch Head/Branch Operations Head)

1. Basic Information: Date: ______/_______/__________


Branch name: ___________________ SOL ID: ______ Cluster: ___________Circle: _________________
Customer Name: _______________________________ Customer ID: ___________________________
Account Number: _____________________________________________________________________
____________________________________________________________________________________
(In case of more than one account, please mention all the account nos.)
Occupation Code: _______________________ Constitution Code: ______________________________
Profile / Line of Business (In details): _______________________________________________________
Note: (Please avoid generic comments such as Self-employed, Business, Retail Trade etc.,). Please Specify – (Self-
employed/Business/Retail Trade in Garment, Steel, Scrap, CA, Consultant, Lawyer, Doctor, etc., / Salaried with Employer Name,
Designation etc.,).

2.Financial Position –
(a) Source of Funds : Business Salary Agriculture Investment / FDs Loans
Donations/Grant Others (Please specify) _______________________________________
(b) Income / Turnover Details:
Sr. Account No. A - Declared Annual Income B - Actual Annual C - Current Annual Income
No. / Turnover - (Obtained at the Turnover – (As per / Turnover - at the time of
time of account opening) Finacle) conducting EDD).
1
2
3
4

Note: Income - In case of Saving (Individual) account / Turnover - in case of Current (Non-Individual) account.

Reasons for variance between Declared and Actual Annual Income / Turnover (Wherever variance is over
2 times – (B-A) _________________________________________________________________________
Note : In case the income / turnover in column “C” is different from column “A”, please update in “Finacle”.

Customer relationships:
SA TD CA CA Trade and Forex Others: ___________________(Please specify)
3. KYC compliance:
Is account KYC compliant: Yes No
Provide details of Beneficial Owner /s, Ultimate Beneficial Owner (UBO) as per the AoF:____________
_____________________________________________________________________________________

Any change in the Beneficial Owner /s, UBO. Yes No If Yes, Provide the details-__________
_____________________________________________________________________________________

Note : UBO is the individual who ultimately owns or controls a company and benefits from its activities. For more information, please refer
Bank’s internal KYC Manual / Policy.

4. Second Field verification


i. Are the findings of field verification: Positive Negative
ii. Date of Field visit: _________/__________/____________
5. Customer conduct
i. Has there been any inquiry / warning / action issued on any of the customer’s accounts by regulator.
/ Government organizations in the past 12 months? Yes No
If yes, specify: _________________________________________________________________________
ii. Status of business: Running Stopped / Suspended Operated from other location .
(For CA customers only).
iii. Does the company/entity deal with Ponzi schemes / Multi-Level Marketing activity? Yes No
(For CA customers only):
iv. Are the imported goods in line with the line of activity? Yes No
(For Trade and Forex customers only)
If No, provide more details: ______________________________________________________________
v. Overall conduct of the customer: Satisfactory Unsatisfactory
6. Information about Transaction Details: (For Last 30 days or more / Specific Transactions)
i) Purpose of the transaction: ____________________________________________________________
ii) Nature of the relationship between the transaction parties: _________________________________
_____________________________________________________________________________________
iii) Source of funds For Credit transactions: _________________________________________________
iv) Provide details of end (Debit Transactions) utilisation of Funds :______________________________
_____________________________________________________________________________________
v) Are transactions in line with the profile of customer? Yes No
If No, provide more details: ______________________________________________________________
7. Overall outcome of EDD: Positive Negative
Declarations by the person conducting the Field Verification & Contact Point Verification:

I confirm that I have personally visited and verified the address and nature of business / activity of the customer. I have
read and verified the documents and the Occupation code captured in the document is correct. The above information
which has been completed by me is true and factual based on the documents verified.

Place: _________________________________________ Branch official Signature: ________________________

Name of the official: _____________________________ Designation: __________________________________

Role ID: _______________________________________ Employee No: _________________________________

Declaration by Branch Head/Branch Operations Head:

We hereby confirm that the Field Verification and Contact Point Verification is complete in all respect. and establishes the
existence of the firm / individual, address and the line of activity, on the basis of inquiries made and documents verified
and there has been no tipping off to the Customer.

Date: _______ /______________/___________ Signature: ______________________

Name of the official: ___________________________ Role: __________________ Employee No: ___________________

Note: If response to any of the question is negative, the overall analysis shall be considered as negative.

Guidelines for staff for completing the field verification / contact point verification and EDD update:

1. Branch to ensure that the field verification cum contact point verification form and the EDD Form are complete in all
respects.

2. Branch to also ensure that under no circumstance any of the field is filled with remark like “NA / Nil / Other”.

3. Customer assistance should not be taken even if the branch official is unable to locate the address. In extreme case of
difficulty, nearest Post Office may be approached for assistance in locating the address.

4. If the entity is a tenant, the landlord has to be compulsorily contacted in order to ascertain the bonafides of the
arrangement and also know whether the landlord has done his due diligence.

5. Call all the contact numbers provided by the applicant in order to satisfactorily confirm the bonafides.

6. Wherever possible, supporting documents for changing the profile of the customer should be requested. If the customer
is not willing to share the documents, the branch official is expected to read and verify the documents in person, and
provide declaration for the same.

7. The EDD is conducted at customer level as a part of periodic due diligence

8. Where the client fails to fulfill the conditions, the branch shall not allow the specified transaction to be carried out in
case the EDD is conducted pre transactions.

9. Any inquiry conducted should be discreet without tipping off to the customer in any manner.

Guidelines for staff for analyzing the transactions in the customer accounts:

1. All accounts associated with the customer has to be analyzed for suspicious transactions / transactions that do not seem
to be in line with the customer profile

2. A window of 6 months of transactions shall be analyzed.

Guidelines to assess the overall outcome of EDD:

1. If response to any of the questions is negative, the overall EDD shall be assessed to be Negative.

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