Non-exclusive examples of policies and procedures.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) At the establishment of the account or relationship, the participant conducts due diligence of a commercial customer and its activities commensurate with the participant's judgment of the risk of restricted transactions presented by the customer's business. (2) Based on its due diligence, the participant makes a determination regarding the risk the commercial customer presents of engaging in an Internet gambling business and follows either paragraph (b)(2)(i) or (b)(2)(ii) of this section. (i) The participant determines that the commercial customer presents a minimal risk of engaging in an Internet gambling business. (ii) The participant cannot determine that the commercial customer presents a minimal risk of engaging in an Internet gambling business, in which case it obtains the documentation in either paragraph (b)(2)(ii)(A) or (b)(2)(ii)(B) of this section— (A) Certification from the commercial customer that it does not engage in an Internet gambling business; or (B) If the commercial customer does engage in an Internet gambling business, each of the following— ( ( ( ( (3) The participant notifies all of its commercial customers, through provisions in the account or commercial customer relationship agreement or otherwise, that restricted transactions are prohibited from being processed through the account or relationship. (4) With respect to the determination in paragraph (b)(2)(i) of this section, participants may deem the following commercial customers to pre

official document · source cfr-2024 · id 12:§ 233.6