Enhanced Due Diligence Documents

The origins of money that an organisation uses to finance its operations. Please note if no business activity or information supporting business activity is evident then we may require further information and supporting documentation.

The origins of a client's entire body of wealth (i.e., total assets), helps us ascertain why the client has the assets they do & how they came to accumulate them. Where the client has been trading, we would expect to receive accounts or corporate tax statements dated from the previous year. If this is not possible then we will need to extend this to the UBO of the entity and require documentation to support their financial input into the business.

If any 1 of the below conditions apply, SoW and SoF is required.

• High Risk Industry
• PEP or Connected to a PEP
• Entity is incorporated in a high-risk jurisdiction
• Entity is operating in a high-risk jurisdiction
• UBO equal to or over 25% residence is in a high-risk jurisdiction
• UBO equal to or over 25% is 25 years old or younger

For questions about this policy, contact us at legal@ftftpay.com.