Summary
This document is a guide detailing the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations in Macao, specifically referencing 'Law No. 2/2006 Prevention And Suppression Of The Crime Of Money Laundering.' It outlines the requirements for identity verification and customer due diligence (CDD) necessary for compliance with these regulations. The document describes the necessary attributes for identifying individuals, including name, date of birth, and identification document details. It also presents compliant CDD methods, including document verification and real-time identity checks through audio-video transmission. Additionally, the guide emphasizes the importance of verifying politically exposed persons (PEPs) and the need for enhanced due diligence measures. The document further discusses the reliance on external services for due diligence and the record retention requirements mandated by Macao’s regulations, which stipulate that data must be retained for a minimum of five years to ensure compliance with AML and KYC obligations.
