Mr X, a PPS Member who is also a PEP, is in
the process of taking up Life and Investment Policies. He has also provided a
list of his beneficiaries as part of the process. The Rep conducts customer due
diligence and client screening on Mr X alone, and thereafter, his policies get
incepted. Please consider the scenario and identify any
step or process that the representative may have left out.

Question

Mr X, a PPS Member who is also a PEP, is in
the process of taking up Life and Investment Policies. He has also provided a
list of his beneficiaries as part of the process. The Rep conducts customer due
diligence and client screening on Mr X alone, and thereafter, his policies get
incepted.  Please consider the scenario and identify any
step or process that the representative may have left out.

Answer

No process was left out as the customer due diligence
and the screening was conducted

Answer

Upfront screening of
Mr. X ‘s beneficiaries

Answer

Tipping off the MLCO that Mr X is a PEP

Crowdly

Mr X, a PPS Member who is also a PEP, is in the process of taking up Life and In...

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