Citation Audit

Citation: Article 21 1. ¶ 1 – Where an obliged entity is unable to comply with the requirement to apply customer due diligence measures laid down in Article 20(1), it shall refrain from carrying out a transaction or establishing a business relationship, and shall terminate the business relationship and consider reporting a suspicious transaction to the FIU in relation to the customer in accordance with Article 69.

Control: CC ID 796 – Establish, implement, and maintain procedures for establishing, maintaining, and terminating third party contracts.