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: Checking Beneficial Owners
Change Date : 11/07/2024 | Word Count: 214 | Deployment Measure : 8/10
Rationale:
Updated wording in light of recent guidance notes in particular the need to verify the identity of beneficial owners to the same standard as that applied to clients who are natural persons.
The goal is to understand who is the natural person or people who own and control the client, and in whose interests it is operating. It will rarely be necessary to consult the detailed definition of a beneficial owner if
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