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Glossary

Correspondent banking

AML risks and due diligence requirements.

Correspondent banking is one bank providing services on behalf of another, often across borders. Because the correspondent does not see the underlying customers directly, it carries elevated AML risk and heightened due-diligence obligations.

See also

CBDDQ

The Wolfsberg standard questionnaire for correspondent relationships.

EDD

Deeper verification for higher-risk relationships.

AML

Regulatory framework and compliance programs.

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