What does the Anti-Money Laundering Act mean and why do you need our information?
Rules have been introduced almost everywhere globally to prevent banks from being used for money laundering or terrorist financing. This means that all financial firms in the EU are obliged to actively work to prevent money laundering.
In short, under the Money Laundering Act, all banks and other financial companies must assess the risk of customers using them for money laundering or terrorist financing. We therefore need to be able to identify all our customers, and to understand, as a bank, how and why you as a customer wish to use our services or products.
The customer information that we receive is always treated confidentially and is subject to banking secrecy.
You can read more about these information requirements here.