s 31
In forceSimplified customer due diligence
Part 2Customer due diligence
Division 4Simplified and enhanced customer due diligence
31 Simplified customer due diligence
In complying with the obligation imposed on a reporting entity under subsection 28(1) or 30(1) in relation to a customer, the reporting entity may apply simplified customer due diligence measures if:
(a)
the ML/TF risk of the customer is low; and
(b)
section 32 does not apply to the customer; and
(c)
the reporting entity complies with the requirements specified in the AML/CTF Rules.
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