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Industry Updates
MAS Notice 3001
Non-Face-to -Face Verification
4.22
4.23
4.24
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No licensee shall undertake any relevant business transaction without face-to-face contact with the customer except with the prior approval in writing of the Authority which may attach such conditions and qualifications as it thinks fit. Time for Completion of CDD Measures
No licensee shall undertake any relevant business transaction unless the L icensee completes the CDD measures as specified in Paragraph 4.
Where the licensee is unable to complete CDD measures, it shall consider if the circumstances are suspicious so as to warrant the filing of an STR. |
Existing Customers
4.25
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A licensee shall perform such CDD measures as may be appropriate to its existing customers having regard to its own assessment of materiality and risk. |
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