Sentence examples for customer rules from inspiring English sources

Accordingly, there is no need to apply the strict "know your customer" rules required in banking.

UK banks and financial services have ignored so-called "know your customer" rules designed to curb criminals' abilities to launder the proceeds of crime, Roberto Saviano warned.

Regulated by the city regulator, the Financial Conduct Authority, it is subject to the "know your customer" rules intended to prevent money laundering.

Under "know your customer" rules now in force in America and other jurisdictions, banks can be prosecuted if they do not make a reasonable effort to establish the uses and source of the funds they handle.

Keen to preserve an immaculate Alpine image, the Swiss authorities in 1997 introduced tough "know your customer" rules and one of the strictest money-laundering laws in the world.

The Fed's manual on the Bank Secrecy Act still says that "know your customer" rules, while desirable, are "not presently required by regulation or statute" -- though the Patriot Act has spawned some rules on the identification of new customers.

While Herbalife has rules to bring it in compliance with the F.T.C. guidelines, including the 70 percent and 10 customer rule, it does not directly track sales to distributors outside its network and has not disclosed this information in the past.

Since that time the "70 percent rule" and "10 customer rule" have been rough metrics by which the F.T.C. partly assesses other multilevel marketing programs to decide whether they are pyramid schemes.

"David, we have a seventy-per-cent customer rule, which effectively says that seventy per cent of all products are sold to consumers or actually consumed by distributors for their own personal use," he said.

THOMAS GOETZ, Wall Street Journal Vegetable Power WHAT WOULD the Know Your Customer rule define as a "suspicious" [bank] transaction?

JULIA CHILD Vegetable Power WHAT WOULD the Know Your Customer rule define as a "suspicious" [bank] transaction?