ICIL has the capability to provide customers with Due Diligence Report as described in the SBP annexure to the BPRD Circular dated 18th October 2018. ICIL customer Due Diligence Report can cover whatever aspects given to ICIL as scope by its banking customer.

Customer Due Diligence or CDD” includes:

• Identifying the customer and verifying the customer’s identity on the basis of documents, data or information obtained from customer or through reliable and independent source.
• Identifying, where there is a beneficial owner who is not the customer, the beneficial owner and taking adequate measures to verify his identity so that the MFB is satisfied that it knows who the beneficial owner is, including, in the case of a legal person, trust or similar legal arrangement, measures to understand the ownership and control structure of the person, trust or arrangement. Revised AML/CFT Regulations for MFBs.
• Understanding and, as appropriate, obtaining information on the purpose and intended nature of the business relationship.
• Monitoring of accounts/transactions on ongoing basis to ensure that the transactions being conducted are consistent with the MFB’s knowledge of the customers, their business and risk profile, including, where necessary, the source of funds and, updating records and data/ information to take prompt action when there is material departure from the usual and expected activity through regular matching with information already available with the MFB.