AML/CFTR 3.2.7 Measures for persons in terrorist list
(3) A firm must, from the outset of its dealings with an applicant for business and on an ongoing basis during the business relationship, check whether the person is listed:
(a) under a relevant resolution of the UN Security Council; or
(b) in a Terrorist Designation Order published by the National Counter Terrorism Committee of the State.
(4) If the person is listed, the firm:
(a) must not establish, or continue, a relationship with, or carry out a transaction with or for the person;
(b) must make a suspicious transaction report to the FIU; and
(c) must immediately tell the Regulator.
|Derived by QFCRA RM/2019-8 (as from 1st February 2020)|