Updating CDD

Posted by paulwakefield1 PM | on Fri, 19/02/2010 - 09:19  908  3 comments | report

I have a corporate client which I do occasional ad hoc work for. I have just been requested to carry out some work for them for the first time for about a year. I therefore need to carry out CDD.

I am informed the main individuals (shareholders and directors) involved have not changed and I hold ID information on them from previous occasions as well as the company. I understand the business and the work is low key - in fact it is highly unlikly I will see any accounting data or information.

It seems to me that, if I do a Company search to confirm that the Directors and shareholders are indeed unchanged, that should be sufficient to update the CDD. Is that too simple an approach or do I need to reconfirm the identity of the individuals?

 

 

Comments

no change

Anonymous | Fri, 19/02/2010 - 11:06 | Permalink

I recall you can see a list of documents submitted on the web (at cos house), which may confirm that there have been no changes.

davidwinch's picture

Keep it simple!

davidwinch | Fri, 19/02/2010 - 11:29 | Permalink

If you are satisfied that the information which you hold still represents the current position then there is no need to re-perform ID exercises on the same individuals.

David

Thank you

paulwakefield1 | Fri, 19/02/2010 - 13:13 | Permalink

Thanks to you both.

Add comment
Log in or register to post comments
Group: Money laundering and crime
A group for discussing issues relating to suspected money laundering and other crime
View all posts in this group
More posts from this group

Pages