Covid-19 and client due diligence

CCAB has released supplementary AML guidance for urgent work undertaken during the pandemic

In view of the current Covid-19 pandemic, there may be circumstances in which a client requires urgent advice in a time frame that does not allow completion of client due diligence (CDD) in sufficient time. Regulation 30(3) MLR 2017 permits this to be completed while establishing the business relationship, provided that the verification is completed as soon as practicable after contact is first established.

To find out more, download CCAB's guidelines here.