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FC-1.5.3

Where an existing customerG is a PEPG , or subsequently becomes a PEP, enhanced monitoring and customer due diligence measures must include:

(a) Analysis of complex financial structures, including trusts, foundations or international business corporations;
(b) A written record in the customerG file to establish that reasonable measures have been taken to establish both the source of wealth and the source of funds;
(c) Development of a profile of anticipated customerG activity, to be used in on-going monitoring;
(d) Approval of senior management for allowing the customerG relationship to continue; and
(e) On-going account monitoring of the PEP'sG account by senior management (such as the MLRO).
Amended: January 2007
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(2 Versions)
 
Up to Jun 30 2007Jul 1 2007 onwards
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