Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024 (110 of 2024)

Schedule 2   Customer due diligence

Part 1   Main amendments

Anti-Money Laundering and Counter-Terrorism Financing Act 2006

3   Section 4

Omit:

• Certain low-risk services are subject to modified identification procedures.

substitute:

• Simplified customer due diligence may be undertaken in certain low risk circumstances as part of initial and ongoing customer due diligence.