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Are there any notable circumstances when CDD must be performed?

 
AML-CFT
Are there any notable circumstances when CDD must be performed?

CDD must be performed:

  • in all circumstances of suspicion of a financial crime, irrespective of risk or any exemption applied, or threshold allowed by legislation; and
  • on an ongoing basis to ensure that business activity is consistent with the institution’s knowledge of the customer, as required by section 21 of the AMLTF Code of Practice.