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CySEC exam study notes

Free, topic-by-topic notes for the CySEC AML, Advanced and Basic exams. Each note answers one question in plain English, lists the key facts to remember and points to the law behind it.

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KYC & Customer Due Diligence

Who must be checked and when, how thoroughly, and what changes for higher- and lower-risk customers.

AML · Ch 6Advanced · Ch 7Basic · Ch 8
Start readingAbout 69 min · reviewed 25 September 2026
  1. 1When CDD is required
  2. 2What CDD involves
  3. 3When CDD must be completed
  4. 4Verifying individuals
  5. 5Verifying companies and organisations
  6. 6Customer economic profile
  7. 7Beneficial ownership registers
  1. 8Simplified due diligence
  2. 9Enhanced due diligence and PEPs
  3. 10CDD by sector
  4. 11Ongoing monitoring
  5. 12Reliance on third parties
  6. 13Group-wide AML policies
  7. 14Prohibited practices and data use

Short on time? Start with these four

The notes that hold most of the thresholds and time limits in KYC & Customer Due Diligence.

When is customer due diligence (CDD) required?Always for a new business relationship; for one-off transactions it depends on the amount and the type of business.5 min readWhat does customer due diligence involve?The four CDD measures, and how the level of risk decides how far each one goes.5 min readWhen is enhanced due diligence required?Extra measures for politically exposed persons, high-risk countries and other higher-risk cases.7 min readWho can see beneficial ownership registers in Cyprus?Full access for authorities, limited data for others, and fines for missing trust filings.7 min read

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The ExamPass CY editorial team writes every note in its own words from the Cyprus AML/CFT Law, CySEC directives, EU legislation and official guidance. Each note shows the date it was last reviewed and the legal provisions it relies on. We do not publish exam questions or their answers here. ExamPass CY is not affiliated with CySEC.

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