A Licensed Person must perform enhanced due diligence on higher risk clients. Among the measures to be applied as a minimum: 1. Obtaining declarations in writing from the beneficial owners about the identity of, and relationship with the directors and substantial shareholders; 2. Obtaining additional information on the purpose and reasons for opening the account, business or employment background, source of funds, identification data of the client and beneficial owner and on the intend nature of the business relationship; 3. Assigning staff to serve the client and those staff must conduct CDD and ongoing monitoring in order to ensure that unusual transactions are analysed and suspicious transactions are identified on a timely basis; 4. Conducting face-to-face meetings with the senior management of the client on a regular basis throughout the business relationship; 5. Obtaining the approval of the senior management of the Licensed Person when opening an account.