AML/CFTR 3.4.8 Reliance on certain third parties generally

(1) A firm may rely on introducers, intermediaries or other third parties to conduct some elements of CDD for a customer, or to introduce business to the firm, if it does so under, and in accordance with, this Division.
(2) However, the firm (and, in particular, its senior management) remains responsible for the proper conduct of CDD and ongoing monitoring for its customers.
(3) In determining whether to rely on a third party for purposes of this rule, the firm must have regard to any relevant findings published by international organisations, governments and other bodies about the jurisdiction where the third party is located.
Derived by QFCRA RM/2019-8 (as from 1st February 2020)