FC-1.3.2
(a) Obtaining additional information on the customer (e.g. occupation, volume of assets, information available through public databases, internet, etc.) and updating more regularly the identification data of customer and beneficial owner;
(b) Obtaining additional information on the intended nature of the business relationship;
(c) Obtaining information on the source of funds or source of wealth of the customer;
(d) Obtaining information on the reasons for intended or performed transactions;
(e) Obtaining the approval of senior management to commence or continue the business relationship;
(f) Conducting enhanced monitoring of the business relationship, by increasing the number and timing of controls applied, and selecting patterns of transactions that need further examination;
(g) Taking specific measures to identify the source of the first payment in this account and applying RBA to ensure that there is a plausible explanation in any case where the first payment was not received from the same customer’s account;
(h) Obtaining evidence of a person's permanent address through the use of a credit reference agency search or through independent governmental database or by home visit;
(i) Obtaining a personal reference (e.g. by an existing customer of the licensee );
(j) Obtaining another licensed entity's reference and contact with the concerned licensee regarding the customer;
(k) Obtaining documentation outlining the customer's source of wealth;
(l) Obtaining additional documentation outlining the customer's source of income; and
(m) Obtaining additional independent verification of employment or public position held.
January 2022
October 2010
October 2010