Ongoing Due Diligence definition

Ongoing Due Diligence means regular monitoring of transactions in Customer’s accounts to ensure that they are consistent with the customers’ Business, risk profile and source of funds. Ongoing monitoring is an essential element of effective KYC procedures. Bank can effectively control and reduce its risk only if it has an understanding of the normal and reasonable activity of the customer so that it has the means of identifying transactions that fall outside the regular pattern of activity.
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Ongoing Due Diligence means conducting ongoing monitoring of a business relationship and scrutiny of transactions throughout the course of the relationship to ensure that the transactions being conducted are
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Ongoing Due Diligence means regular monitoring of Transactions in accounts to ensure that they are consistent with the Customers, Customers’ business and risk profile and source of funds/wealth.
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Related to Ongoing Due Diligence

  • On-going Due Diligence means regular monitoring of transactions in accounts to ensure that they are consistent with the customers’ profile and source of funds.

  • Due Diligence At any time prior to the Closing Date, the Underwriters have the right to inspect the Asset Files and the related loan origination procedures and to confirm the existence of the related manufactured homes or mortgaged properties to ensure conformity with the Final Prospectus and the Prospectus Supplement.

  • Customer Due Diligence (CDD) means a process which involves establishing the identity of a client, the identity of the client’s beneficial owners in respect of legal persons and monitoring all transactions of the client against the client’s profile;

  • Due Diligence Period has the meaning set forth in Section 4.1.

  • Due Diligence Review means the performance by Buyer of any or all of the reviews permitted under Section 44 hereof with respect to any or all of the Loans or Seller or related parties, as desired by Buyer from time to time.