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© 3d Investments Ltd 2012
The Joint Money Laundering Steering Group; 14 March 2005
Prevention of money laundering/combating the financing of terrorism
GUIDANCE FOR THE UK FINANCIAL SECTOR
TAKING ACCOUNT OF RISK - A CONSULTATION PAPER
PART I: Main Text
Chapter 5 Customer Due Diligence
5.2 Who is the customer?
|
Regulation 2(1) |
5.2.1 |
Firms must decide, in any proposed relationship, which individual or entity meets the definition of 'applicant for business' under the ML Regulations, whose identity must be verified. In many cases this may be straightforward, but where legal entities are involved, or the potential applicant for business acts for others, it is often less clear. Judgement often needs to be exercised as to who the applicant for business really is. |
|
Regu |
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