Transcription of Know Your Customer Requirements
{{id}} {{{paragraph}}}
Example: quiz answers
Know Your Customer Requirements
know your Customer Requirements for Banks and Trust Companies ** Presented by: Rochelle A. Deleveaux Legal Counsel The Central Bank of The Bahamas Box N-4868 Nassau, Bahamas Tel: 1 (242) 302-2611 Fax: 1 (242) 323-7795 Email: 22nd August 2002 1 TABLE OF CONTENTS Page 1. The Role of The Central Bank of The Bahamas 3-4 2. The basel Committee on Customer Due Diligence 4-6 3. Verification of Identity (VOI) The Statutory Regime Relevant Law 6-7 Whose Identity Should be Verified? 7 When Must Verification Occur? 7-8 Exemptions 8 Written Confirmation 9 4. What Documentation Is Required? Documentation Requirements for Specific Cases: (i) FTRA and the FTRR 9-10 (ii) Well known individuals 10 (iii) Old account information for established individuals 10-11 (iv) Source of Funds 11-12 (v) Deceased Beneficial Owners/Settlors/Asset Contributors 12 (vi) Nominee Asset Contributors 13 (vii) Declarations of Trust 13-14 (viii) Declaration of Beneficial Ownership 14 (ix) Declaration of Beneficial Ownership for Companies Managed by Financial Institutions 14 (x) Declaration of Beneficial Ownership in relation to trusts 1
2.5 Under the Basel Committee’s Guidance “customer” includes: beneficial owners of accounts or facilities, that is, the person in whose name the account has been opened or the person on whose behalf the account is
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: