in relation to a business relationship between a designated person and a customer, means the designated person, on an ongoing basis -
(a) scrutinising transactions, and the source of wealth or of funds for those transactions, undertaken during the relationship in order to determine if the transactions are consistent with the designated person's knowledge of -
(i) the customer,
(ii) the customer's business and pattern of transactions, and
(iii) the customer's risk profile (as determined under section 30B), and
(b) ensuring that documents, data and information on customers are kept up to date in accordance with its internal policies, controls and procedures adopted in accordance with section 54