Yes. If there is a significant change in business structure or ownership, such as:
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Modification of UBOs.
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Takeover or merger
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Substantial change in business activities
Is this the case? Then the customer needs a renewed identification and verification undergo. This is also called an event-driven review called an event-driven review.
This is required under Article 3 of the WWFT and helps Flexado identify risks in a timely manner.
Does a customer forget to report such a change? Then this becomes obvious during the periodic compliance audit.
