Source: https://www.systemday.com/uk/uk-companies-act/money-laundering-regulations-2007/the-money-laundering-regulations-2007-record-keeping.php
Timestamp: 2017-11-21 06:03:24
Document Index: 362891920

Matched Legal Cases: ['ART 2', 'ART 3', 'ART 4', 'ART 5', 'art 7', 'art 3', 'art 7', 'art 3']

The Money Laundering Regulations 2007 - Record Keeping & Procedures
PART 2 - CUSTOMER DUE DILIGENCE
PART 3 - RECORD-KEEPING, PROCEDURES AND TRAINING
PART 4 - SUPERVISION AND REGISTRATION
PART 5 - ENFORCEMENT
SCHEDULE 1 - ACTIVITIES LISTED IN POINTS 2 TO 12 AND 14 OF ANNEX I TO THE BANKING
(a) a copy of, or the references to, the evidence of the customer’s identity obtained pursuant to regulation 7, 8, 10, 14 or 16(4);
(b) the supporting records (consisting of the original documents or copies) in respect of a business relationship or occasional transaction which is the subject of customer due diligence measures or ongoing monitoring.
(a) in the case of the records specified in paragraph (2)(a), the date on which—
(i) the occasional transaction is completed; or
(ii) the business relationship ends; or
(b) in the case of the records specified in paragraph (2)(b)—
(i) where the records relate to a particular transaction, the date on which the transaction is completed;
(ii) for all other records, the date on which the business relationship ends.
(a) as soon as reasonably practicable make available to the person who is relying on him any information about the customer (and any beneficial owner) which he obtained when applying customer due diligence measures; and
(b) as soon as reasonably practicable forward to the person who is relying on him copies of any identification and verification data and other relevant documents on the identity of the customer (and any beneficial owner) which he obtained when applying those measures.
(a) as soon as reasonably practicable make available to him any information about the customer (and any beneficial owner) which the third party obtained when applying customer due diligence measures; and
(b) as soon as reasonably practicable forward to him copies of any identification and verification data and other relevant documents on the identity of the customer (and any beneficial owner) which the third party obtained when applying those measures.
(a) customer due diligence measures and ongoing monitoring;
(c) record-keeping;
(d) internal control;
(e) risk assessment and management;
(f) the monitoring and management of compliance with, and the internal communication of, such policies and procedures,
(a) which provide for the identification and scrutiny of—
(i) complex or unusually large transactions;
(ii) unusual patterns of transactions which have no apparent economic or visible lawful purpose; and
(iii) any other activity which the relevant person regards as particularly likely by its nature to be related to money laundering or terrorist financing;
(c) to determine whether a customer is a politically exposed person;
(d) under which—
(i) an individual in the relevant person’s organisation is a nominated officer under Part 7 of the Proceeds of Crime Act 2002 and Part 3 of the Terrorism Act 2000;
(ii) anyone in the organisation to whom information or other matter comes in the course of the business as a result of which he knows or suspects or has reasonable grounds for knowing or suspecting that a person is engaged in money laundering or terrorist financing is required to comply with Part 7 of the Proceeds of Crime Act 2002 or, as the case may be, Part 3 of the Terrorism Act 2000; and
(iii) where a disclosure is made to the nominated officer, he must consider it in the light of any relevant information which is available to the relevant person and determine whether it gives rise to knowledge or suspicion or reasonable grounds for knowledge or suspicion that a person is engaged in money laundering or terrorist financing.
(a) whether it maintains, or has maintained during the previous five years, a business relationship with any person; and
(b) the nature of that relationship.
21.A relevant person must take appropriate measures so that all relevant employees of his are—