CTHIn ForceAct
Anti-Money Laundering and Counter-Terrorism Financing Act 2006
31Simplified customer due diligence
Start here
Get a plain-English read of 31
Turn the raw legal text into a practical explanation grounded in Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
#### 31 Simplified customer due diligence
In complying with the obligation imposed on a reporting entity under subsection 28(1) or 30(1) in relation to a customer, the reporting entity may apply simplified customer due diligence measures if:
(a) the ML/TF risk of the customer is low; and
(b) section 32 does not apply to the customer; and
(c) the reporting entity complies with the requirements specified in the AML/CTF Rules.