AML/CFTR 4.5.1 Simplified CDD — general

Except if there is a suspicion of money laundering or terrorism financing, a firm may conduct, for a customer, simplified CDD under rules 4.5.2 to 4.5.4 when:

(a) it establishes a business relationship with the customer; or
(b) it conducts a one-off transaction for the customer to which rule 4.3.2 (1) (b) (When CDD required — basic requirement) applies.
Derived by QFCRA RM/2019-8 (as from 1st February 2020)