LESSON 10: INELIGIBLE CUSTOMERS

                                                

Companies should not admit, and transactions should not be carried out when, in application of due diligence measures (normal, simplified or enhanced), it is verified:

1. The customer is included in any of the official public sanctions lists of the European Union.
2. The customer has businesses whose nature makes it impossible to verify the activities or the origin of the funds.
3. The customer refuses to provide all or part of the information or documentation required, or having provided it, refuse to allow the institution to obtain a copy of their ID document.
4. The customer provides documents that are clearly false, or in which exist serious doubts about their legality, legitimacy or manipulation.
5. Legal entities whose shareholding or control structure cannot be determined.
6. Legal entities whose business activity is the operation of casinos, gaming machines, betting or other games of chance which are not officially licensed.
7. Establishments engaged in currency or foreign exchange and/or money transfer activities which are not officially licensed.
8. Natural or legal persons who may be linked to criminal activities.

Important

1. The Obliged Subject must notify the Commission’s Executive Service of all transactions involving a party or a transaction that is not permitted under the company’s client admission policy.

2. Companies should not admit any transactions when the customer refuses to provide the documentation required in application of the due diligence measures.