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Under the Anti-Money laundering law, a covered institution is required to maintain a system of verifying the true identity of their clients as well as

  1. Under the Anti-Money laundering law, a covered institution is required to maintain a system of verifying the true identity of their clients as well as persons purporting to act on behalf of: (Philippine Context)
  • Those doing business with such clients
  • Unknown Principals
  • The covered institution
  • Such clients

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