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When must enhanced CDD be carried out according to the text?
When must enhanced CDD be carried out according to the text?
- Under special circumstances such as executing numerous cash transactions
- If a red flag is raised due to suspicious activity or news reportage about money laundering (correct)
- At the beginning of a new business relationship
- At regular intervals as the relationship progresses
What is the purpose of carrying out Customer Due Diligence at regular intervals?
What is the purpose of carrying out Customer Due Diligence at regular intervals?
- To detect suspicious activity (correct)
- To establish a new business relationship
- To execute numerous cash transactions
- To raise a red flag
What triggers the need for special circumstances Customer Due Diligence according to the text?
What triggers the need for special circumstances Customer Due Diligence according to the text?
- Opening a bank account
- Carrying out regular intervals Customer Due Diligence
- Executing numerous cash or large-value transactions (correct)
- Raising a red flag due to suspicious activity
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