The NTT DATA white paper outlines how financial institutions can strengthen due diligence (CDD) and KYC programs during COVID-19. The pandemic increased online fraud, money laundering, and terrorist financing risks, as criminals exploited remote onboarding, stimulus funds, and digital services. Regulators imposed stricter compliance, driving costs and penalties upward. To mitigate risks, banks need robust CDD that blends rich real-time data, AI, machine learning, blockchain, NLP, and digital IDs. Effective solutions must be scalable, customizable, secure, and efficient. Strong domain expertise, operational standards, and automation help improve accuracy, reduce costs, and ensure compliance.

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