Lexsure Knowledge Hub
Makes available the latest paragraphs for you to consider including in your AML Update Service.
text for AML Update Service:
AML Update: Enhanced Due Diligence
Change Date : 19/06/2024 | Word Count: 392 | Deployment Measure : 7/10
Rationale:
Enhanced due diligence (EDD) must now be applied in any situation where the transaction is either complex or unusually large. Previously, EDD only needed to be applied where all of the criteria applied.
We must carry out ‘enhanced due diligence’ in any case where in any situation where the transaction is either complex or unusually large. The law includes the following risk indicators: - We are dealing with a person established in a
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