DOING BUSINESS WITH A SUSPICIOUS CUSTOMER

You don’t have to end your business relationship or stop providing designated services to a customer because you have formed a suspicion about them. You should use your own risk-assessment policy and procedures to decide whether to continue doing business with them.

If you do decide to end the business relationship, you must not tell the customer that you have formed a suspicion or that you have reported an STR to the FIC. If you do so, it is called ‘tipping off’ and is against the law.