AML/CFTR 4.3.3 Firm unable to complete CDD for customer
(1) This rule applies if a firm cannot complete CDD for a customer.
1 the firm is unable to verify the customer's identity using reliable, independent source, data or information
2 the customer exercises cancellation or cooling-off rights
(2) The firm:
(a) must immediately terminate any relationship with the customer;
(b) must not establish a relationship with, or carry out a transaction with or for, the customer; and
(c) must consider whether it should make a suspicious transaction report to the FIU.
|Derived by QFCRA RM/2019-8 (as from 1st February 2020)|