If you are an existing customer you must still be able to present valid identification upon request and if, for example, you wish to carry out a transaction or use a new service.
If you are a new customer we are required to verify your identity. Depending on the service you wish to use, our staff may also need to ask additional questions to understand and verify intent. Do you live abroad? Specific requirements apply to non-residents and we are required to find out if you or a close relative of yours holds a high political office or position within the government.
As a business customer, in addition to providing valid identification, you must also prove that you are entitled to represent the company. We will need to know whether someone has a controlling interest in the company and if either party owns more than 25% of the company. Furthermore, you may need to answer questions about the company’s operations, sales and intent with regards to the business relationship, and for what purpose you intend to use our services.
Our staff has to ask questions
If our staff has any reason to suspect crime or risk thereof, they may not execute a transaction. The same applies if a customer upon demand cannot or will not produce identification. If we suspect money laundering we are obligated by law to report this to Finanspolisen, a unit within The National operative depratment (Sw. Nationella operativa avdelningen).
If laws and regulations are not followed, i.e., if our staff does not gain adequate information about you, the employee may be punished and 24Money subjected to sanctions by for example the Swedish Financial Supervisory Authority.
Information in payments
In accordance with Regulation (EC) No 1781/2006 of the European Parliament and of the Council (Sw. Europaparlamentets och rådets förordning (EG) nr 1781/2006), we are also obliged to request and save information about your identity when you make cash deposits and payments.