Where a beneficiary who differs from the contracting party, or, if any, the beneficial owner of the beneficiary, is a politically exposed person, a family member of such a person, or a person known to be closely associated with such a person within the meaning of section 1(12), (13), or (14) of the Money Laundering Act, the obliged undertakings, where they identify a higher risk of money laundering or terrorist financing, must, in addition to the duties named in section 15(4) of the Money Laundering Act, 1. inform a member of senior management before a pay-out, 2. subject the entire business relationship with the policyholder to enhanced scrutiny, 3. examine whether the conditions for a report under the Money Laundering Act are met.