Client due diligence strengthened: mandatory reliable independent identification and group-wide AML information-sharing with confidentiality safeguards. The rules require reporting entities to verify clients and beneficial owners by using reliable and independent sources of identification, obtain purpose and nature-of-relationship information, and implement group-wide AML and terror finance programmes with policies for protected intra-group information sharing and safeguards against tipping-off.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Client due diligence strengthened: mandatory reliable independent identification and group-wide AML information-sharing with confidentiality safeguards.
The rules require reporting entities to verify clients and beneficial owners by using reliable and independent sources of identification, obtain purpose and nature-of-relationship information, and implement group-wide AML and terror finance programmes with policies for protected intra-group information sharing and safeguards against tipping-off.
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