All results 4
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Prevention of money laundering and terrorist financing
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Customer identification
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| How should financial institutions verify a customer’s citizenship when using their driving licence for identification purposes? Is a driving licence issued in the United Kingdom, which is no longer part of the European Economic Area (EEA), a valid document for a customer’s identification? | |
| How can a financial market participant authenticate a customer in the physical presence of the customer if, at the beginning of the business relationship, the customer’s identity was established and verified upon receipt of their passport or identity card? | |
| Is it obligatory to check against public, reliable and independent sources for negative information that can impact the customer’s, its representative’s and beneficiary’s reputation (e.g. if a pre-trial investigation into the customer’s financial crimes is initiated, etc.) during customer identification and verification? | |
| Do paper versions of documents (e.g. copies of passports, shareholder registers and company’s articles of association, etc.) collected during customer identification have to be stored? Is it sufficient to store only electronic versions of the documents in the customer’s file, according to internal control procedures determined by the financial institution? | |
Last update: 22-04-2024