Question: PLEASE DO NOT USE CHATGPT OR AI ANSWERS...WILL BE REPORTED In June 2021 the PCMLTF Act was amended to include explicit requirements that requires all

PLEASE DO NOT USE CHATGPT OR AI ANSWERS...WILL BE REPORTED

In June 2021 the PCMLTF Act was amended to include explicit requirements that requires all Reporting Entities (RE) to take reasonable measures to confirm the accuracy of information regarding beneficial ownership in the course of ongoing monitoring of business relationships. Explain why this was change was necessary.

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