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Performance of customer due diligence measures by third parties

Legal Profession (Prevention of Money Laundering, Financing of Terrorism and Proliferation Financing) Rules 2015

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—(1) A legal practitioner or law practice cannot rely on a third party to perform any customer due diligence measures prescribed in rule 9.(2) Even if a legal practitioner or law practice relies on a third party to perform any customer due diligence measures prescribed in this Part (other than rule 9), the legal practitioner or law practice remains responsible for the performance of those measures.(3) Where a legal practitioner or law practice relies on a third party to perform any customer due diligence measures prescribed in this Part (other than rule 9), the legal practitioner or law practice must —(a)document the basis for the legal practitioner’s or law practice’s opinion in paragraph (4)(a) and (b); and(b)obtain from the third party without delay all documents and information acquired as a result of the customer due diligence measures performed by the third party.(4) Before a legal practitioner or law practice relies on a third party to perform any customer due diligence measures prescribed in this Part (other than rule 9), the legal practitioner or law practice must —(a)be satisfied that where necessary, the legal practitioner or law practice will be able to obtain from the third party, upon request and without delay, any document or information acquired by the third party as a result of the customer due diligence measures performed by the third party;(b)be satisfied that the third party —(i)is subject to and supervised for compliance with requirements for the prevention of money laundering, the financing of terrorism and proliferation financing, consistent with the standards set by the FATF; and(ii)has adequate measures in place for compliance with the requirements mentioned in sub-paragraph (i); and(c)take appropriate steps to identify, assess and understand the risks of money laundering, the financing of terrorism and proliferation financing in the countries, territories or jurisdictions that the third party operates in (if applicable).

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