KARACHI: The State Bank of Pakistan (SBP) issued the Anti-Money Laundering, Combating the Financing of Terrorism & Counter Proliferation Financing (AML/ CFT/ CPF) Regulations for banks and other financial institutions, which shall supersede previous regulations/instructions.
Under the new regulations, the SBP issued the list of information, which the banks and financial institutions shall require to verify customer identity.
List of Information required for customer identity
- Basic Identification Information
- Full name as per identity document
- Mother maiden name
- Date of Birth
- Place of Birth
- Permanent address
- Identity document number, whichever applicable
- Date of expiry of applicable identity document
- Other basic information
- Father/ spouse name as per identity document
- Date of issuance of applicable identity document
- Contact Number: Mobile Number (s)/ Land Line Number
- Purpose of account/ transaction/ business relation
- Beneficial ownership/ controlling rights
- Other relevant Information for natural persons, as applicable
- Current/ Mailing Address
- Personal Email Address (as applicable)
- Nationality – Resident/ Non-Resident Status
- FATCA/ CRS Declaration, wherever required
- Profession/ Source of Income/ Funds: Salary, Business, investment income
- Next of Kin
- Attested Passport Size Photo (in case of Photo Account instructions)
- Live Photo (in case of digital onboarding)
- Information for Legal Persons/ Legal Arrangements
- Registration/ incorporation number or business registration number (as applicable)
- Date of incorporation or registration of legal person or arrangement (as applicable)
- Place of incorporation or registration of legal person or arrangement (as applicable)
- National Tax Number (NTN)
- Nature of business, geographies involved and expected type of counter-parties (as applicable)
- Registered or business address
- Intended nature of business relations
- Purpose of account or transaction (where accounts are not maintained and transactions are done by walk in/ occasional customers)
- Type of account/ financial transaction/ financial service
- Expected monthly credit turnover (amount and No. of transactions)
- Normal or expected modes of transactions/ delivery channels
- Wherever instructed/ advised, regulatory limits imposed such as: credit and debits/ deposit and withdrawals/ execution of financial transaction/ types of financial services allowed/ restricted.
- Additional Information in case of ”Trusts”
- Whether the Trust is a Public Trust or Private Trust including foreign and national trust
- Trust Deed whereby the Trust has been created;
- Details of Settlor (this will also be available in the Trust Deed);
- Objects of the trust (this will also be available in the Trust Deed);
- Trustee of the trust (whether trustee is associated person of the settlor);
- Description of each class or type of beneficiary (this information may also be checked from Trust Deed);
- Details of any possibility of influence of any other person on trustee regarding management and control of trust property;
- In the case of “Private Trust” if the beneficiary of a trust is also the beneficial owner of the trust, identification and verification of the beneficiary is required otherwise the name and CNIC of each beneficiary of a trust should be obtained.-
