Section 70(3)

Paragraph (4) applies if— a relevant firm informs the Treasury under paragraph (1) that it knows, or has reasonable cause to suspect, that a person is a designated person or under paragraph (1ZA) that it knows, or has reasonable cause to suspect, that a person for whom it holds funds or economic resources is a prohibited person, and that person is a customer of the relevant firm.

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Source: legislation.gov.uk · retrieved 2026-08-30