Section 5, The Anti-Money Laundering Act, 2005

(1) If it is uncertain whether a customer is acting on hisown behalf, the financial institution shall seek information by any means as to the true identity of the principal or party on whose behalf the customer is acting. (2) If, following verification, any doubt remains as to the true identity of the beneficial owner, the banking relationship shall be terminated, without prejudice, where applicable, to the requirement to report suspicious business transactions. (3) A customer who is a legal practitioner, a public or private accountant, an individual with public powers of attorney or an authorised agent, acting as a financial intermediary, may not invoke professional secrecy or confidentiality in order to refuse to disclose the true identity of the transacting party or beneficial owner.