Yes. Banks have a statutory obligation to know and identify their customers. Among other things, this means that the bank must verify the customer’s identity in a reliable manner, in practice by requesting identification such as a passport or driving licence.
The bank must also be able to demonstrate to the authorities how each customer has been identified, the document or information on which the identification was based and who identified the customer. In other words, banks have the right to take copies of the ID used to identify the customer and to store the copies in their customer file. Collecting and storing the data is justified and necessary with regard to the purpose of the processing.
Yes. Banks are obligated to know their customers, including whether they are politically influential or the family members or close business partners of a politically influential person. This obligation is based on the Act on the Prevention of Money Laundering and the Financing of Terrorism (444/2017).
A person is politically influential if he or she holds a significant public office in Finland or abroad, or has held such a position in the past year. The family members of such persons consist of their spouses, children and their spouses, and parents.