A Licensed Person must verify the identity of the client, potential client and beneficial owner before and during the course of establishing the business relationship or carrying out the transaction. When the Licensed Person is unable to perform CDD measures satisfactorily at the account opening stage or prior to carrying out the transaction, it must terminate the business relationship and not perform any transaction, and must make a suspicious transaction report (STR). The provision also applies to existing client relationships established prior to the enactment of this Module.