AMLAWARE | Enhanced Due Diligence
AMLAware International – Anti-Money Laundering compliance training programs meeting regulatory requirements for insurance companies, the financial services industry, and the banking sector worldwide.
Anti-money laundering, training, training program, training programs, money laundering, insurance, finances, financial industry, banking sector, international, international anti-money laundering
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Enhanced Due Diligence

17 Jun Enhanced Due Diligence

Topic Progress:

If a customer is assessed as presenting a higher degree of money-laundering risk, enhanced due diligence measures should be followed. Examples of customers that may be at higher risk for money laundering and should be subject to enhanced due diligence include:

 

  • Politically Exposed Persons (PEPs) and their close associates;
  • Persons from jurisdictions deemed to be a high risk for money laundering (e.g., FATF listed countries);
  • Customers who are not physically present for the identification process; and
  • Customer who uses bearer shares to engage in a transaction and require additional measures to identify the beneficial owners.