Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations

54.4 If, as a result of its ongoing monitoring of a business relationship under paragraph 54.3(a), the financial entity considers that the risk of a money laundering offence or terrorist activity financing offence is high, it shall treat that person or entity as high risk for the purpose of subsection 9.6(3) of the Act and apply the prescribed special measures in accordance with section 71.1 of these Regulations.