AML/KYC requirements are a “moving target” and continually growing the demands on compliance.
BankID AML is an easy and practical way to identify your customer, and get good data material for conducting a risk based due diligence in connection with a for example a KYC process. BankID AML will help you with the following:
- Identifying your customer
- Supplying the following data about your customer in a machine readable format, to be included in your own business processes:
- National Identity Number
- Name
- Search results to assess whether your customer is a PEP (Politically Exposed Person) og RCA (Relative or Close Associate)
- Search results to asses whether your customer is on any sanction lists (EU og UN lists)
- Address from the national registry
Please note that although BankID supports the authentication of the end-user, and supplies data for the due diligence process, the responsibility for making the risk based decision to accept a customer or not lies with the Merchant. The Merchant has to interpret the data that BankID AML provides, in addition to other necessary information and make the decision.
Two different variants of the BankID AML service are supported. See the technical documentation for further details on these variants and how to integrate with the AML Service for each variant.
See the following sections for further product-level details, including info on each of the said variants of the AML service.API toolkit that helps the merchant do its share in countering money laundering and terror financing and closing the gap in being compliant with the AML legislation. At the same time operational efficiencies and capacity increases.
The different resources are designed to be integrated in the merchants customer due diligence processes and help save time spent doing lookups for data in many separate sources.
See AML Technical documentations for technical details about how to integrated with the services.
The following resources are in place, or in a beta stage, and more will be added in the future.
| The person resource is used to screen and gather data about an individual for a customer due diligence process, either a private customer or an individual that holds a role in an organization. |
| The organization resource is used to screen and gather information about a business or organization for a B2B customer due diligence process, in combination with the person resource. |
| The continuous screening service is used to keep tabs on your customer base, and get noticed as soon as an individual becomes a pep or is listed on a sanction list. The service can be used for ongoing follow-up of individuals and/or for role |
