Citation Audit

Citation: Article 23 1. ¶ 1 – Verification of the identity of the customer, the beneficial owner, and of any persons pursuant to Article 20(1), points (h) and (i), shall take place before the establishment of a business relationship or the carrying out of an occasional transaction. Such obligation shall not apply to situations of lower risk under Section 3 of this Chapter, provided that the lower risk justifies postponement of such verification.

Control: CC ID 16899 – Validate a consumer's identity in accordance with applicable requirements.