Customer due diligence
Customer Due Diligence describes the Know Your Business (KYB) and Know Your Customer (KYC) checks that we and all other Banks are legally required to complete to help reduce the risks of financial crime and to protect against reputational risk.
Forms of financial crime such as Identity Theft, sophisticated Fraud and Money Laundering represent some of the most serious threats to the safe and secure provision of finance.
To keep any possible impact from these threats to a minimum and to ensure Aldermore remains compliant with regulator’s standards, as well as checks on the customer we are lending to, we also check the identity of the beneficial owner(s) of the businesses we supply credit to and the signatory acting on its behalf.