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Can the information held in the Repository support enhanced due diligence?

April 26, 2017diligence Enhanced held Repository support

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Can the information held in the Repository support enhanced due diligence?

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10 Posted

Documentation held within the Repository may be used to support the due diligence process including, where appropriate and legally permissible, a risk-based enhanced due diligence approach. It is however the individual bank that must determine the appropriate level of due diligence for those seeking to form a correspondent relationship with it and assess whether they wish to seek additional documents and reassurance in addition to those held within the Repository.