Section 35(1)

A relevant person must have in place appropriate risk-management systems and procedures to determine whether a customer or the beneficial owner of a customer is— and to manage the enhanced risks arising from the relevant person's business relationship or transactions with such a customer. a politically exposed person (a “PEP”); or a family member or a known close associate of a PEP,

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Source: legislation.gov.uk · retrieved 2026-09-04