(Guideline Chapter 5)
Where SDD applies, GRDA is not required to identify and verify the
BENEFICIAL OWNER. However, other aspects of CDD must be undertaken and it is still necessary to conduct ongoing monitoring of the business relationship. GRDA must have solid grounds to support the use of SDD and may have to demonstrate these grounds to the Registrar.
Pursuant to section 4(3) of Part 2 of Schedule 2 to the AMLO, customers to whom SDD may be applied are:
GRDA is required to :
To ascertain whether a customer is eligible for SDD, GRDA would: