Section 7F: Simplified Customer Identification System

1) The indexing organisation may adopt a simplified client identification and enrichment system for clients or transactions found to be low-risk related to financial investment in money laundering and terrorist activities.

2) The simplified customer identification and enrichment provisions under sub-section (1) shall not be adopted in the case of transactions involving high-risk customers, the risk of financial investment in the purification of business or property, and terrorist acts.

3) Simplified customer identification and other arrangements related to enrichment will be as prescribed.