If you believe that the circumstances of a CDD arrangement have changed after completing a regular assessment, and that the CDD arrangement no longer meets the requirements of the AML/CTF Act and Rules, you must cease relying under the arrangement until the requirements are met.

For what period of time should you suspend or cease the CDD arrangement?

The arrangement will not have legal effect again until you consider that there are reasonable grounds to believe that all of the shortcomings have been remediated and the requirements of the AML/CTF Act and Rules are being met.

  • During the…

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