(NAR) VOL. 15 NOS. 1-2 / APRIL - JUNE 2004
a) The reporting of all "Suspicious" transactions, (as defined under rules 3.b.1 of the AMLA rules);
b) The reporting of all "Covered" transactions, (as defined under Rule 3.b of the same rules);
c) Client identification responsibility (KYC), or securing the required mini mum disclosure data and requiring the presentation of the necessary iden tification documents , from all their clients, regardless of the amount and nature of their insurance transactions;
d) Record keeping or the safe keeping of all of their clients' identification data and transaction records, for a total period of five (5) years, or until final resolution of any related laundering court case, as the case maybe.
A. Individual clients
- Name;
- Present Address;
- Permanent Address;
- Date and Place of Birth;
- Nationality;
- Nature of work and name of employer or nature of self-employment/business;
- Contact Numbers;
- Tax Identification Number, Social Security System number or Government Service and Insurance System number;
- Specimen signature
- Source of fund(s); and
- Names of beneficiaries, whenever applicable (Rule 9.1.c)
B. Corporate/juridical entity-clients
- Articles of Incorporation/Partnership;
- By-laws;
- Official address or principal business address;
- List of directors/partners;
- List of principal stockholders owning at least two percent (2%) of the capital stock;
- Contact Numbers;
- List of principal officers;
- Beneficial owners, if any; and
- Verification of the authority and identification of the person purporting to act on behalf of the client (Rule 9.1.d)