Regulation 12

perform, in relation to each client, an adequate analysis of the risks of money laundering, the financing of terrorism and proliferation financing;

document the analysis and the conclusions reached; and

keep the analysis up to date.

the client is from or in, or the transaction relates to, any foreign country or territory in relation to which the FATF has called for countermeasures or enhanced customer due diligence measures;

the client is from or in any foreign country or territory known to have inadequate measures to prevent money laundering, the financing of terrorism or proliferation financing, as determined by the legal practitioner or law practice, or as notified to the legal practitioner or law practice generally by the Society or Director of Legal Services;

the client is from or in, or the transaction relates to, any foreign country or territory that the FATF has identified as a country, territory or jurisdiction subject to increased monitoring; or

the legal practitioner or law practice has reason to believe that the client, any person acting on behalf of the client or any person on whose behalf the client is acting, or the transaction, presents a high risk of money laundering, the financing of terrorism or proliferation financing.