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2.1.3 Applying EDD and Other Preventive Measures

Effective from 15/8/2021

Where the LFI determines a customer to be higher-risk, Article 4.2(b) of the AML-CFT Decision requires that the LFI apply EDD. Specific EDD steps are also required for hawala providers customers that are politically exposed persons, or are owned or controlled by a politically exposed person, or are based in a higher-risk jurisdiction.