Section 37(5)

A relevant person may apply simplified customer due diligence measures where the customer is a person to whom paragraph (6) applies and the product is an account into which monies are pooled (the “pooled account”), provided that— the business relationship with the holder of the pooled account presents a low degree of risk of money laundering and terrorist financing; and information on the identity of the persons on whose behalf monies are held in the pooled account is available, on request to the relevant person where the pooled account is held.

← 4 · All articles · 6 →

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