Due Diligence (DD) Documents Requirement

Due Diligence Documentation

Before we establish a correspondent banking relationship or facilitate any high-value engagement, we need comprehensive due diligence documentation. What you'll need to provide depends on your business type. Below are the requirements for three common client categories.

Affiliates (Sub-Marketing Partners)

Profile: Individuals or companies that refer business to us and earn commission.

Required Documents:

Government-issued photo ID (passport, driver's license, or national ID)
Proof of address (utility bill, bank statement, government document dated within 90 days)
Completed application form with business description and referral sources
Banking details for commission payments (account number, routing number, bank name)
Selfie holding ID (for identity verification)
Beneficial ownership declaration (if your referral business is structured as a company)

Exceptions: Affiliates do not need to provide audited financial statements, AML/KYC policies, or compliance manuals.

MTO/MSB (Licensed Money Transfer Operators & Money Service Businesses)

Profile: Licensed operators conducting cross-border money transfers or payment services.

Required Documents:

Company registration documents (articles of incorporation, business license, regulatory licenses)
Government-issued photo ID for all beneficial owners and directors
Proof of address for principals (dated within 90 days)
Audited financial statements for the last 2 years (or 1 year if less than 2 years in operation)
Organizational chart showing ownership structure and decision-making authority
AML/KYC policy manual (written policies for customer due diligence, transaction monitoring, suspicious activity reporting)
Sanctions screening and PEP check procedures
Transaction monitoring and reporting procedures
Customer complaint and dispute resolution procedures
Data protection and privacy policy
Business description including corridors, transaction types, average transaction size, and monthly volume projections
List of current banking relationships and correspondent banks
Regulatory inspection reports (if available)
Insurance certificates (errors and omissions, cyber liability)
Selfie with ID for all beneficial owners and directors

Correspondent Agents (Banks, Payment Providers, Solution Partners)

Profile: Banks, financial institutions, and payment solution providers offering correspondent services.

Required Documents:

Bank license or regulatory authorization certificate
Bank routing/SWIFT code and account information
Latest regulatory examination report (from central bank or financial regulator)
Audited financial statements for the last 3 years
Organization structure and board information
Anti-money laundering (AML) policy and procedures manual
Know Your Customer (KYC) procedures and policy
Sanctions screening procedures and OFAC compliance program
Compliance officer contact information
List of correspondent relationships
Technology infrastructure and cybersecurity certifications
Insurance coverage (professional liability, cyber liability, fidelity bond)
Corporate resolution authorizing the engagement
Beneficial ownership declaration

Timeline for Submission

Please provide all required documents within 14 days of signing an engagement letter. If you're missing documents, let us know upfront—we'll work with you on alternatives or timelines if there's a legitimate reason for the delay.

Confidentiality of Documents

All documents you provide are treated as confidential. We store them securely and share them only with authorized personnel working on your engagement and with the correspondent banks or service providers you're connecting with (only the documents they need to review).

Incomplete or Missing Documentation

If you can't provide certain documents (e.g., audited financials if you're a newer business, or regulatory inspection reports if they're not publicly available), explain your situation. We'll assess whether alternatives exist. However, core compliance documentation (government IDs, proof of address, KYC policies for MSBs) are generally non-negotiable.

Updating Documents

If any of your documented information changes significantly (ownership, regulatory status, banking relationships), inform us as soon as possible. We may need to update your due diligence file and, in some cases, conduct a fresh review.