Regulation 26

in respect of all complex or unusually large transactions, or unusual patterns of transactions that have no apparent or visible economic or lawful purpose;

when X proposes to provide or has provided corporate services to, or has established a business relationship with, any person from or in a relevant country or territory;

in respect of any other categories of customers or any other transactions which X determines may present a high risk of money laundering, proliferation financing or terrorism financing;

in respect of a business relationship or transaction with a customer, where the customer is from or in a relevant country or territory;

in respect of a customer if X is not able to establish whether the customer has any —

ongoing, apparent or visible operation or business activity; or

economic or business purpose for its corporate structure or arrangement; and

subject to regulation 27, when X proposes to provide a corporate service to a politically‑exposed person.

inquiring into the background and purpose of any corporate service that X is employed, engaged or appointed to carry out;

obtaining approval from the senior management of X to provide or to continue to provide corporate services to a customer;

establishing by appropriate and reasonable means the source of wealth and source of funds which are involved in the proposed business relationship; and

keeping a written record of X’s findings in respect of the CDD measures and the measures in sub‑paragraphs (a), (b) and (c).