Digital screening, including Standard Due Diligence (SDD) and Enhanced Due Diligence (EDD), is a process utilized to assess the risk associated with customers or transactions in the digital realm. SDD involves basic checks to verify identities and assess the risk level of standard customers or transactions. EDD, on the other hand, is a more thorough process that applies to high-risk customers or transactions, requiring deeper scrutiny and additional verification steps.

Digital screening leverages advanced technologies such as AI and machine learning algorithms to analyse vast amounts of data quickly and efficiently. It enables businesses to detect suspicious activities, potential fraud, or compliance breaches in real-time. Through digital screening, businesses can automate compliance processes, enhance efficiency, and reduce manual errors.

These processes include monitoring for changes in customer behaviour or transaction patterns, flagging anomalies for further investigation. Digital screening helps organizations meet regulatory requirements, such as Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations, ensuring compliance in the digital age. It provides a proactive approach to risk management, enabling businesses to identify and mitigate potential threats before they escalate. Overall, digital screening, SDD, and EDD are essential components of a robust compliance framework in the digital era, safeguarding businesses against financial crimes and reputational damage.