Regulations Governing Anti-Money Laundering of Financial Leasing Enterprises Article 7

A financial leasing enterprise should perform CDD measures. However, if it is otherwise permitted by laws or regulations that a financial leasing enterprise may reply on third parties to perform the identification and verification of the identities of customers, person on behalf of the customer, beneficial owners of the customer or the purpose and intended nature of the business relationship, the enterprise relying on the third party shall still bear the ultimate responsibility for CDD measures and comply with the following provisions:1. A financial leasing enterprise relying on a third party should be able to immediately obtain the necessary CDD information.2. A financial leasing enterprise should take adequate steps to satisfy itself that copies of identification data and other relevant documentation relating to CDD requirements will be made available from the third party upon request without delay.3. A financial leasing enterprise shall make sure that the third party it relies on is regulated, supervised or monitored, and has appropriate measures in place for compliance with CDD and record-keeping requirements.4. A financial leasing enterprise shall make sure that the jurisdiction where the third party it relies on is based has AML/CFT regulations in place consistent with the standards set out by the FATF.