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AML: Client Take On - Risk Based CDD
- Identifying, from the Money Laundering Regulations 2007, the new statutory obligations for the generality of the CDD requirements
- Considering the relevant JMLSG Guidance on the obligations identified out of the above
- Probing the consequences of making statutory the obligations that were previously best practice, including:
- Researching, structuring and documenting a risk based assessment
- Application of new due diligence obligations generally
- New statutory definitions of PEPs, beneficial owners and other higher risk relationships
- Enhanced due diligence
- Ongoing monitoring, including as part of the enhanced due diligence obligation
- Issues arising from the day-to-day application of CDD processes
- Other issues identified for consideration by delegates in the workshop
