Chris Lambert gave a seminar this week on the revised Schedule 2 of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) that will come into effect shortly. The session covered the amendments to the definition of “Politically Exposed Person (PEP)”, the risk-based approach for Customer Due Diligence (CDD) in respect of former PEPs, and the introduction to digital identification system for the purpose of CDD. 

At the end of the session, participants discussed real-life examples and problems performing CDD.

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