Week 2 - Money Laundering Regulations Flashcards
1
Q
When do you need to check the client identity?
A
Where transactions/series of transactions exceed €15,000
2
Q
How do you check the client identity of an individual?
A
Photo, passport, address
3
Q
How do you check the client identity of a company?
A
Check with Registrar of companies e.g company certificate of incorporation; registered address; list of shareholders and directors
4
Q
How long should you keep records for?
A
Minimum of five years and until min 5 years after they are your client
