PLI 9 – Customer identification requirements under the AML/CTF Act deals with:

• The nature and content of risk-based ‘applicable customer identification procedures’ under Part 7 of the AML/CTF Act and the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (AML/CTF Rules 2007)
• When and in what circumstances ‘applicable customer identification procedures’ are to be carried out as set out in Part 2 of the AML/CTF Act
• Relevance of the ‘100 point check’ prescribed in the Financial Transaction Reports Regulations 1990 for identification procedures under the AML/CTF Act.