The basis of all procedures for the prevention of money laundering and terrorist financing is having sufficient customer information to enable the bank to know exactly who they are conducting business with. Customer identification procedures and due diligence measures apply to any natural person or legal entity of any type.

These measures comprise the following:

• Identifying and verifying the customer's identity on the basis of documents, data or information issued or obtained from a reliable and independent source;
• Identifying the beneficial owner who ultimately owns or exercises control over the customer;
• Collecting information on the purpose and intended nature of the business relationship;

Bank of Beirut (UK) Ltd takes all necessary measures to identify its customers at the outset of the relationship. A business relationship is never established until the identity of a potential customer is satisfactorily established and verified. The bank conducts periodic reviews to establish the veracity and adequacy of previously obtained customer identification documents, data or information.