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  • FC-1.3 FC-1.3 Enhanced Customer Due Diligence: General Requirements

    • FC-1.3.1

      Enhanced customer due diligence must be performed on those customers identified as having a higher risk profile, and additional inquiries made or information obtained in respect of those customers.

    • FC-1.3.2

      The additional information referred to in Paragraph FC-1.3.1 might include documents (either in hard copy or electronic format) relating to the following:

      (a) evidence of a person's permanent address through the use of a credit reference agency search or through independent verification by home visit;
      (b) a personal reference (e.g. by an existing customer of the conventional bank licensee);
      (c) another licensed entity's reference and contact with the concerned licensee regarding the customer;
      (d) documentation outlining the customer's source of wealth;
      (e) documentation outlining the customer's source of income; and
      (f) independent verification of employment, or public position held.

    • FC-1.3.3

      In addition to the general rule contained in Paragraph FC-1.3.1 above, special care is required in the circumstances specified in Sections FC-1.4 to FC-1.9 inclusive.