A. Due Diligence Measures

In the event of suspicion of a ML/TF operation and when the financial institution has strong justifications and reasonable grounds that the customer may become aware of the suspicion upon application of the due diligence measures, the financial institution shall decide, at its discretion, not to carry out due diligence, provided that it shall comply with Paragraph (8.8) in the Reporting of Suspicious Transactions Section . 3.15 The financial institution shall use the best technologies to identify and record information in accordance with the due diligence requirements, so that changes in the data and their dates can be monitored and identified. Recorded and entered information shall be correct and consistent with the information provided by the customer after being verified. This shall include: a) Information of customers. b) Information of beneficial owners. c) Information of owners and all managers and senior executives of the customer. d) Information of the person acting on behalf of the customer. 3.16 The financial institution may accept the execution of a transaction for an occasional customer who does not have a business relationship with it. This applies to individuals (citizens and residents) and visitors with a visa of temporary residence, taking into consideration Paragraph (4.4) in the Enhanced Due Diligence Section . 3 Financial institutions must implement due diligence measures according to Paragraph (3.3) in addition to the relevant provisions in the Implementing Regulations of the Law on Supervision of Cooperative Insurance Companies, the Insurance Market Code of Conduct Regulations, the Implementing Regulations of the Finance Companies Control Law , the Implementing Regulations of the Financial Leasing Law , the Rules for Bank Accounts , the Rules Regulating Banking Agency in Saudi Arabia , the Regulations for Issuance and Operations of Credit and Charge Cards , the Regulatory Rules for the Prepaid Payment Services , and the Rules Regulating Money Changing Business . 4 Such as the sanctions lists of the European Union, the Office of Foreign Assets Control (OFAC) of the US Treasury Department, the US State Department, Interpol, etc.