Sentences with phrase «low risk of money laundering»

Given that there was no national consensus that PCAs always present a low risk of money laundering, the government view is that PCAs should not be automatically subject to SDD, but rather a risk - based approach.

Pooled client accounts (PCAs) must be risk assessed and subject to CDD — not simplified due diligence (SDD), unless the account is proven to be at low risk of money laundering

The Third Directive enabled Member States to exempt certain entities from Customer Due Diligence (CDD) where there was a low risk of money laundering or terrorist financing.

Not exact matches

Yet, the facts, as laid down in his own Treasury's report had stressed that «risks of digital currency used for money laundering to be relatively low».

«Awareness of money laundering risks will be low, profits are high which encourages those who are suspicious to turn a blind eye and criminals are able to launder huge amounts of money in a single, seemingly innocuous, transaction.

Indeed, the UK Treasury recently released a risk assessment of money laundering and terrorist financing, finding that digital currencies present the lowest risk for money laundering.

UK's National Crime Agency (NCA) has deemed that the risks of digital currency use in money laundering are «relatively low.»