ABC Bank plc can apply Simplified Customer Due Diligence to which customer?

• A. ACE Enterprises Ltd, which is listed on the main market of the Irish Stock Exchange.
• B. Mary, who has less than €100,000 to invest.
• C. Brown & Co, a small two-person legal practice.
• D. New Oil Co. Ltd, a small unlisted oil exploration company.

Answer: (B)

Simplified CDD is used when the customer and the intended activity present a low risk of money laundering or financing of terrorism, so lighter verification can be justified. A private individual with a small amount to invest offers a straightforward, low-risk profile: one person, a modest sum, and no complex ownership structures to untangle. In this scenario, the bank can rely on basic identity checks and declarations of funds without stepping up to standard or enhanced due diligence. The other cases carry higher risk: an unlisted oil exploration company involves a sector with greater money-laundering risk and more complex ownership, a small two-person legal practice could pose professional-service-related risk, and even a listed company, while regulated, generally still warrants standard due diligence to confirm ownership and ongoing monitoring. Thus, the low-risk, small-investment personal scenario is the one suited to Simplified CDD.