Development of enhanced due diligence requirements

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Reference no: EM133654555

Compliance Business Case:

When enhanced due diligence is required for merchants, respective groups within Compliance perform the EDD review, depending on the areas of subject matter expertise required, and Utilizes 1) responses to enhanced due diligence questionnaires developed by Compliance, 2) documents produced by the merchant at Compliance's request, and 3) Compliance's independent research.

Your role includes development of enhanced due diligence requirements for new merchant types that are not already covered under current EDD. A sales leader brings to you a merchant opportunity for an online platform that enables its customers ages 13-17 years old to develop online content, inter active games, and engage in networking and interactive-play with others on the site.

What would you do to determine the following:

- Whether enhanced due diligence is required for the described business model:

- What would be the enhanced due diligence requirements:

- The key stakeholders and potential approvers of the EDD requirements:

- What would be your approach to engaging stakeholders and achieving buy-in to implement the EDD requirements if the business model is to be accepted as a client?

Reference no: EM133654555

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