No, you don’t have to verify the identity of a client that is an organization if you have already done so, you retained the recorded information and you have no reason to believe that the information, or the accuracy of it has changed. This exception also applies to verifying the identity of the individual(s) instructing you on behalf of the organization (see the question above) and to obtaining names of directors and owners. However, while retained in respect of a financial transaction, you are required to periodically monitor the professional business relationship with the client, which may include ascertaining whether there has been any change in the identity or ownership of the corporation and determining that the instructing individual is still authorized to act in that capacity.