Title I: General Guidelines

AI Summary of Title I: General Guidelines

Version date: 1 March 2021 - onwards


	Guideline 1: Risk assessments: key principles for all firms (1.1-1.32)
	1.1
	General considerations (1.2-1.5)
	1.2
	1.3
	1.4
	1.5
	Keeping risk assessments up to date (1.6-1.10)
	1.6
	1.7 (updated 30 December 2024)
	1.8
	1.9
	1.10
	Business-wide risk assessments (1.11-1.17)
	1.11
	1.12
	1.13
	1.14
	1.15
	Proportionality (1.16)
	1.16
	Implementation (1.17)
	1.17
	Linking the business-wide and individual risk assessments (1.18-1.20)
	1.18
	1.19
	1.20
	Individual risk assessments (1.21-1.28)
	1.21
	1.22
	Initial Customer Due Diligence (1.23-1.25)
	1.23
	1.24
	1.25
	Obtaining a holistic view (1.26-1.27)
	1.26
	1.27
	Ongoing customer due diligence (1.28)
	1.28
	Sources of information (1.29-1.32)
	1.29
	1.30
	1.31
	1.32
	Guideline 2: Identifying ML/TF risk factors (2.1-2.21)
	2.1
	2.2
	Customer risk factors (2.3-2.8)
	2.3
	2.4 (updated 30 December 2024)
	2.5
	2.6
	2.7 (updated 3 November 2023)
	2.8
	Countries and geographical areas (2.9-2.15)
	2.9
	2.10
	2.11
	2.12
	2.13
	2.14
	2.15
	Products, services and transactions risk factors (2.16-2.19)
	2.16
	2.17
	2.18
	2.19
	Delivery channel risk factors (2.20-2.21)
	2.20
	2.21
	Guideline 3: Assessing ML/TF risk (3.1-3.9)
	3.1
	Taking a holistic view (3.2-3.3)
	3.2
	3.3
	Weighting risk factors (3.4-3.7)
	3.4
	3.5
	3.6
	3.7
	Categorising risk (3.8-3.9)
	3.8
	3.9
	Guideline 4: CDD measures to be applied by all firms (4.1-4.78)
	4.1
	4.2
	4.3
	4.4
	Customer due diligence (4.5-4.39)
	4.5
	4.6
	4.7
	4.8
	Financial inclusion and de-risking (4.9-4.11)
	4.9
	4.10
	4.11
	Beneficial owners (4.12-4.25)
	4.12
	Beneficial ownership registers (4.13)
	4.13
	Control through other means (4.14-4.18)
	4.14
	4.15
	4.16
	4.17
	4.18
	Identifying the customer’s senior managing officials (4.19-4.22)
	4.19
	4.20
	4.21
	4.22
	Identifying the beneficial owner of a public administration or a state-owned enterprises (4.23-4.25)
	4.23
	4.24
	4.25
	Evidence of identity (4.26-4.37)
	4.26
	4.27
	4.28
	Non-face to face situations (4.29-4.31)
	4.29 (updated 30 December 2024)
	4.30
	4.31
	Using innovative technological means to verify identity (4.32-4.37)
	4.32
	4.33
	4.34
	4.35 (updated 30 December 2024)
	4.36
	4.37
	Establishing the nature and purpose of the business relationship (4.38-4.39)
	4.38
	4.39
	Simplified customer due diligence (4.40-4.44)
	4.40
	4.41
	4.42
	4.43
	4.44
	Enhanced customer due diligence (4.45-4.68)
	4.45
	4.46
	4.47
	Politically Exposed Persons (4.48-4.52)
	4.48
	4.49
	4.50
	4.51
	4.52
	High-risk third countries (4.53-4.57)
	4.53
	4.54
	4.55
	4.56
	4.57
	Correspondent relationships (4.58-4.59)
	4.58
	4.59
	Unusual transactions (4.60-4.61)
	4.60 (updated 30 December 2024)
	4.61 (updated 30 December 2024)
	Other high-risk situations (4.62-4.65)
	4.62
	4.63
	4.64
	4.65
	Other considerations (4.66-4.68)
	4.66
	4.67
	4.68
	Monitoring (4.69-4.78)
	4.69
	4.70
	4.71
	Transaction monitoring (4.72-4.75)
	4.72
	4.73
	4.74 (updated 30 December 2024)
	4.75
	Keeping CDD information up to date (4.76-4.78)
	4.76
	4.77
	4.78
	Guideline 5: Record-keeping (5.1-5.2)
	5.1
	5.2
	Guideline 6: Training (6.1-6.3)
	6.1
	6.2 (updated 30 December 2024)
	6.3
	Guideline 7: Reviewing effectiveness (7.1-7.2)
	7.1
	7.2

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Document Overview

AI Summary of Title I: General Guidelines

Title I: General Guidelines