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GT Shield

Chapter 3 : Money Laundering, Financing of Terrorist and Related Activities and Financial Sanctions Control Measures

Chapter 3 : Money Laundering, Financing of Terrorist and Related Activities and Financial Sanctions Control Measures

Part 1 : Customer due diligence

20A. Anonymous clients and clients acting under false or fictitious names

 

An accountable institution may not establish a business relationship or conclude a single transaction with an anonymous client or a client with an apparent false or fictitious name.

 

[Section 20A inserted by section 8 of the Financial Intelligence Centre Amendment Act, 2017 (Act No. 1 of 2017)]