Transactions where a client purchases real estate and then immediately sells it for a sum that is greatly in excess of its value should be immediately reported to the Compliance Officer. A Source of Declarations Form is to be completed for all transactions in excess of TT$60,000.00 or wire transfers in excess of US$10,000.00.Wire transfers, both domestic and cross-border, are also subject to due diligence. (See Appendix F) [Confirm cash threshold for transactions] Due diligence for cross border business: Personal Customer Due Diligence Where original documents are not available, copies shall be acceptable only where they are certified by identification by a suitable certifier e.g.: a Notary Public, an Judicial Officer, Head Consular Officer or a person known to myself/senior partners/associates. Picture identification only will be acceptable. Business Customer Due Diligence I/my employees/partners/associates will not transact business unless all relevant documentation for corporate accounts are obtained and verified with the Companies Registry. The identity of the directors, partners, sole traders, officers, account signatories and beneficial owners shall be verified by obtaining at least one (1) piece of picture identification and person” meetings. “in Enhanced Due Diligence (EDD) Measures
Transactions where a client purchases real estate and then immediately sells it for a sum that is greatly in excess of its value should be immediately reported to the Compliance Officer. A Source of Declarations Form is to be completed for all transactions in excess of TT$60,000.00 or wire transfers in excess of US$10,000.00.Wire transfers, both domestic and cross-border, are also subject to due diligence. (See Appendix F) [Confirm cash threshold for transactions] Due diligence for cross border business: Personal Customer Due Diligence Where original documents are not available, copies shall be acceptable only where they are certified by identification by a suitable certifier e.g.: a Notary Public, an Judicial Officer, Head Consular Officer or a person known to myself/senior partners/associates. Picture identification only will be acceptable. Business Customer Due Diligence I/my employees/partners/associates will not transact business unless all relevant documentation for corporate accounts are obtained and verified with the Companies Registry. The identity of the directors, partners, sole traders, officers, account signatories and beneficial owners shall be verified by obtaining at least one (1) piece of picture identification and “in person” meetings. Enhanced Due Diligence (EDD) Measures
Model%20Compliance%20Programme%20LATT%20Submission%20to%20the%20FIU.docx