It may be a requirement but it is far from normal. Effectively they are saying to their customers, 'prove you are not a criminal'Organisations need to refresh their AML due diligence periodically so I think this is normal.
No they're not.It may be a requirement but it is far from normal. Effectively they are saying to their customers, 'prove you are not a criminal'
No they're not.
They're asking for specific information that they are obliged by law to keep on file and up to date for anti money laundering purposes.
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Not even PPSN?No mention of ID which is strange also.
Thank you but I believe current accounts not or won't be passed on regardless of what happens, bank of Ireland for example have stated that they won't be automatically taking over current accounts, ironically I'd actually been looking at options over the past week or so.It’s not surprising that they are reviewing their AML documentation when they are winding down . If your account is being passed to another bank , they will expect it to be up to date
Thank you, I'm guessing it's nothing to be worried about, I suppose had they asked for updated ID, I would not have been curious, I do recall my credit union looking for up to date ID and proof of address about 2 years ago as part of their compliance obligations.Banks arent saying "show me your id, we think youre a criminal". Theyre simply carrying out their legal and compliance obligations under the (3rd?) aml directive and its just responsible banking practice that regulators, shareholders and customers (should) expect. Its normal kyc due diligence. Ops review may have been triggered by something?
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