Which documentation is typically used to verify identity during enhanced due diligence?

• A. A single utility bill
• B. Government-issued photo ID and additional verification such as source of funds
• C. Email verification
• D. Phone contact with customer

Answer: (B)

Enhanced due diligence requires confirming who the customer is beyond basic checks, and that means more than a single document. A government-issued photo ID provides solid evidence of identity, and pairing it with additional verification such as the source of funds or source of wealth adds context about where the money comes from and the legitimacy of the customer’s activities. This combination is what enables a meaningful risk assessment.

Relying on a single utility bill doesn’t prove identity, as it only confirms an address. Email verification can be easily spoofed, and a phone contact alone isn’t reliably tied to the individual.