17 Jun Enhanced Due Diligence
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.