Question-7: a) Conduct research on ‘due diligence ‘. Explain the difference between supplier due diligence and customer due diligence.

Due diligence is an investigation or audit of a potential investment or product to confirm all facts, such as reviewing all financial records, plus anything else deemed material. It refers to the care a reasonable person should take before entering into an agreement or a financial transaction with another party. Supplier due diligence you’re considering which key suppliers you should work with to source those essential products or services you need and costumer due diligence means taking steps to identify your customers and checking they are who they say they are. In practice this means obtaining a customer's name, photograph on an official document, which confirms their identity residential address and date of birth and some other details