AML/CFTR 3.2.4 Persons associated with terrorist acts etc — enhanced CDD and ongoing monitoring

(1) This rule applies to a customer of a firm if the firm knows or suspects that the customer is an individual, charity, non-profit organisation or other entity:
(a) that is associated with, or involved in, terrorist acts, terrorism financing or a terrorist organisation; or
(b) that is subject to sanctions or other international initiatives.
(2) Irrespective of the risk score otherwise obtained for the customer, the firm must conduct enhanced CDD and enhanced ongoing monitoring for the customer.

Note See rule 4.2.2 (What is ongoing monitoring?) and rule 4.3.13 (Ongoing monitoring required).
(3) A decision to enter into a business relationship with the customer must only be taken with senior management approval after enhanced CDD has been conducted.
Derived by QFCRA RM/2019-8 (as from 1st February 2020)