Yes. In circumstances where a refund of a deposit is made to a buyer, you will be required to perform CDD on the buyerprior to providing the refund.
I have to refund a deposit to a buyer; does this trigger any CDD requirements?
Written by Jessica
Yes. In circumstances where a refund of a deposit is made to a buyer, you will be required to perform CDD on the buyerprior to providing the refund.