Section 21, Terrorism Act, 2012

(1) Subject to paragraph (a) of subsection (2) of section 24, a reporting entity shall verify the identity of the customer on the basis of reliable and independent source documents, data or information such as a passport, a driver's licence, a national identification document or a certified certificate of incorporation or other evidence as is reasonably capable of verifying the identity of the customer when– (a) opening an account or taking into safe custody stocks, bonds or other securities, or granting safe-deposit facilities or otherwise establishing a business relationship with a customer; (b) the customer, who is neither an account holder nor in an established business relationship, wishes to carry out a transaction in an amount equal to or above thirty million Leones or its equivalent in foreign currency whether conducted as a single transaction or several transactions that appear to be linked; (c) the customer (whether an existing customer or not) carries out an international or a domestic wire transfer of an amount equal to or above three million Leones or its equivalent in foreign currency; (d) there is suspicion of money laundering or the financing of terrorism; or Effective use of resources. Application of risk-based approach. Prohibition of anonymous accounts. Application of CDD and KYC principles. Obligation to verify customer identity. 28 29 (e) any doubts exist about the veracity or adequacy of any statement or documentation of the customer or any previously obtained customer identification information. (2) In the case of an individual customer, the identity shall be verified by the presentation of a valid international passport, driver's licence, national identification document or such other official document bearing the customers photograph, a copy of which shall be retained by the reporting entity; and the address shall be verified by the presentation of a document capable of providing proof of identity. (3) In the case of a customer which is a body corporate, the identification shall be by the production of records establishing that it has been lawfully established and that it is actually in existence at the time of the identification, a copy each of which shall be retained by the reporting entity. (4) Where the customer is an individual delegated as a director, employee or agent of a body corporate to enter into transactions on behalf of third parties, he shall produce the documents referred to in subsection (3) as well as documents authenticating the identity and addresses of the beneficial owner.