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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 23 January 2024 - onwards
  Version 7 of 7    

Regulation 33 Obligation to apply enhanced customer due diligence

(1) A relevant person must apply enhanced customer due diligence measures and enhanced ongoing monitoring, in addition to the customer due diligence measures required under regulation 28 and, if applicable, regulation 29, to manage and mitigate the risks arising -

(a) in any case identified as one where there is a high risk of money laundering or terrorist financing -

(i) by the relevant person under regulation 18(1), or

(ii) in information made available to the relevant person under regulations 17(9) and 47;

(b) in any business relationship with a person established in a high-risk third country or in relation to any relevant transaction where either of the parties to the transaction is established in a high-risk third country;

(c) in relation to correspondent relationships with a credit institution or a financial institution (in accordance with regulation 34);

(d) if a relevant person has determined that a customer or potential customer is a PEP, or a family member or known close asso

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