Section 7O: Not Conduct Transaction

1) The reporting entity shall not establish an account, continue business relationships, or conduct transactions with the following customer:-

(a) Customer who cannot provide documents, information and details required for the customer identification and verification pursuant to this chapter,

(b) Documents, information, and details provided pursuant to this chapter seem to conflict with the identity of the customer customer’s identity.

2) The reporting entity shall terminate the relationship with the existing customer referred in accordance with sub-section (1) and may inform the Financial Information Unit (FIU) if necessary.