David Stanton (Cork East, Fine Gael) | Oireachtas source

This amendment relates to the requirement for a designated person to monitor customers with whom he or she has a business relationship. The words to be inserted make it clear that the monitoring is to be done only to the extent that it is warranted by the risk in a particular case of money laundering or terrorist financing. This is in line with the directive which mandates a risk-based approach to consumer due diligence.