Section 37(1)

A relevant person may apply simplified customer due diligence measures in relation to a particular business relationship or transaction if it determines that the business relationship or transaction presents a low degree of risk of money laundering and terrorist financing, having taken into account— the risk assessment it carried out under regulation 18(1); relevant information made available to it under regulations 17(9) and 47; and the risk factors referred to in paragraph (3).

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