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Where a licensee'sG risk-based monitoring systems identify significant or abnormal transactions (as defined in FC-2.2.2 and FC-2.2.3), it must verify the source of funds for those transactions, particularly where the transactions are above the occasional transactions threshold of BD 6,000. Furthermore, investment firm licenseesG must examine the background and purpose to those transactions and document their findings. In the case of one-off transactions where there is no on-going account relationship, the licenseeG must file an STR if it is unable to verify the source of funds to its satisfaction (see Chapter FC-4).

Amended: January 2007
(2 Versions)
Up to Jun 30 2007Jul 1 2007 onwards
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