You will need to refer to your AML/CFT Compliance Programme for more details on when to perform Enhanced CDD or conduct source of funds/wealth verification.
The following client types are deemed to be higher risk and may require Enhanced CDD or source of funds/wealth verification:
Trusts or another vehicle for holding personal assets
PEPs
A non-resident client from a country that has insufficient anti-money laundering and countering financing of terrorism systems or measures in place
A company with nominee shareholders or shares in bearer form
For more information on Enhanced CDD, view our CDD Reference Guide here.