Due Diligence Code Configuration

Screen ID: 

Screen Title: 

Panel Number:

UDDMNT-01

Due Diligence Code Maintenance

4551

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Access this screen by selecting Tool #247: Configure Due Diligence Codes.

Use this screen to name your Due Diligence codes, which are used for manually flagging a member for special monitoring based on the results of internal due diligence efforts as required by the Bank Secrecy Act (BSA.) This tool allows you to configure what due diligence codes your credit union would like to use. Examples of due diligence codes may be:

  • High Risk

  • Med Risk

  • Low Risk

  • Occupational Risk

  • Cash Intensive Acct

  • MSB (Money Service Business)

  • MRB (Marijuana Related Business)

  • Monitored for Abnormal Activity Suspicious

  • Monitored for Abnormal Activity Not Suspicious

Do not add a due diligence definition to DD code 0, as that is the default when a new membership is opened and should be used to show this member does not have any continued monitoring being performed on their membership. Although you can leave descriptions blank, we recommend you enter “UNKNOWN” or “NOT IN USE” to make it clearer for staff as they select codes.

For more information on due diligence codes please contact the AuditLink Team.

Use Update (F5) to save your changes.

Field Descriptions

Field Name

Description

DD Code

The Due Diligence Code number (all one digit, cannot go past 9)
Description

The description assigned to the Due Diligence Code (assigned by your credit union)