Know Your Customer

In accordance with the Law of the Republic of Latvia on the Prevention of Money Laundering and Terrorism and Proliferation Financing, Regulations for Enhanced Customer Due Diligence of the Latvijas Banka, as well as on the basis of the Basel Committee recommendations, Wolfsberg principles, FATF Recommendations, guidance on correspondent banking services and internal procedures of the Bank, when establishing relationship with the client as well as during the customer servicing, the Bank is entitled to request, but the client is obliged to provide information and documents approving:

  • the source of funds of the client and/or the beneficial owner;
  • personal or business activity of the client.

The Bank is also entitled to request from the client additional information and/or documents that are related to account opening and/or further activities with the account. The Bank guarantees the confidentiality of the received information, as well as the confidentiality of the client’s identity, his/her accounts, deposits and transactions within the framework of the laws and regulations of the Republic of Latvia.