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Effective from 2020-11-09 - Nov 08 2020 To view other versions open the versions tab on the right
138.
DTFCs must establish customer identification at the outset of relationship.
139.
As a measure of control, DTFCs must require all their customers to update the database of their General Accounts with the DTFCs periodically based on the risk rating policies established with a maximum limit of five years.
140.
Updating of the General Account must include personal information, address, signatures specimen and (major and additional) income sources of those who act on behalf of a customer or as his agent. DTFCs must establish procedures and policies in order to achieve the objectives relating to updating of the General Account.
141.
For accounts opened under official approvals or letters, such as government accounts updating period must not exceed max. 5 years.
142.
In case, there is any suspicion of money laundering or terrorist financing in any time relating to account holder or authorized persons, DTFCs must update the General Account with such information
