List of customer information to be verified by banks under latest AML regulations

KARACHI: The State Bank of Pakistan (SBP) on Wednesday 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

A. Basic Identification Information

1. Full name as per identity document

2. Mother Maiden name

3. Date of Birth

4. Place of Birth

5. Permanent Address

6. Identity document number, whichever applicable

7. Date of expiry of applicable identity document

B. Other basic information

8. Father/ spouse name as per identity document

9. Date of issuance of applicable identity document

10. Contact Number: Mobile Number (s)/ Land Line Number

11. Purpose of account/ transaction/ business relation

12. Beneficial ownership/ controlling rights

C. Other relevant Information for natural persons, as applicable

13. Current/ Mailing Address

14. Personal Email Address (as applicable)

15. Nationality – Resident/ Non-Resident Status

16. FATCA/ CRS Declaration, wherever required

17. Profession/ Source of Income/ Funds: Salary, Business, investment income

18. Next of Kin

19. Attested Passport Size Photo (in case of Photo Account instructions)

20. Live Photo (in case of digital onboarding)

D. Information for Legal Persons/ Legal Arrangements

1. Registration/ incorporation number or business registration number (as applicable)

2. Date of incorporation or registration of legal person or arrangement (as applicable)

3. Place of incorporation or registration of legal person or arrangement (as applicable)

4. National Tax Number (NTN)

5. Nature of business, geographies involved and expected type of counter-parties (as applicable)

6. Registered or business address

7. Intended nature of business relations

8. Purpose of account or transaction (where accounts are not maintained and transactions are done by walk in/ occasional customers)

9. Type of account/ financial transaction/ financial service

10. Expected monthly credit turnover (amount and No. of transactions)

11. Normal or expected modes of transactions/ delivery channels

12. Wherever instructed/ advised, regulatory limits imposed such as: credit and debits/ deposit and withdrawals/ execution of financial transaction/ types of financial services allowed/ restricted.

E. Additional Information in case of ”Trusts”

13. Whether the Trust is a Public Trust or Private Trust including foreign and national trust

14. Trust Deed whereby the Trust has been created;

15. Details of Settlor (this will also be available in the Trust Deed);

16. Objects of the trust (this will also be available in the Trust Deed);

17. Trustee of the trust (whether trustee is associated person of the settlor);

18. Description of each class or type of beneficiary (this information may also be checked from Trust Deed);

19. Details of any possibility of influence of any other person on trustee regarding management and control of trust property;

20. 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.

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