FC-2.2.10
(a) Scrutinize transactions undertaken throughout the course of that relationship to ensure that transactions being conducted are consistent with the conventional bank licensee's knowledge of the customer, their business risk and risk profile; and
(b) Ensure that they receive and maintain up-to-date and relevant copies of the identification documents specified in Chapter FC-1, by undertaking reviews of existing records, particularly for higher risk categories of customers. Conventional bank licensees must require all customers to provide up-to-date identification documents in their standard terms and conditions of business.
Amended: October 2017
October 07
October 07