New digital KYC platform launched in Greece

Friday 28 May 2021 10:57 CET | News

The Greek Ministry of Digital Governance has launched a new digital KYC platform in the context of the Greek Government’s initiative on digitising some bureaucratic procedures.

The platform is called ‘Introduce yourself - KYC (Know Your Customer)’ and has been designed and implemented by the Ministry of Digital Governance. The platform enables citizens who have Greek Tax Identification Number and Taxisnet credentials to avoid an in-person visit to the bank. Thus, they will not have to collect and submit themselves, in hardcopy, the documents required for maintaining a bank account, as was the process until May 2021.

Such supporting documents include tax and financial related data, data related to their professional activity, as well as identification and contact details.

All previously required copies of identity cards, settlement notes, utility bills, and payroll have been permanently eliminated from the process of updating the data. As soon as the user/customer reviews the accuracy of its data and grants its explicit and specific consent, credit and financial institutions will immediately gain access, through the Interoperability Centre of the Ministry, to the data required by AML/CFT Law for the verification of the customer's identity, as well as to their contact details, professional activity, and annual income data.

The data will be obtained via primary information systems that are managed by the public sector and will be filled out on the platform.

Still for the time being, the procedure is completely optional and, any citizen who so wishes, can continue to provide the required documentation in the traditional physical way.

More: Link

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Keywords: KYC, money laundering, AML, identity verification, digital identity, compliance
Categories: Fraud & Financial Crime
Countries: Greece
This article is part of category

Fraud & Financial Crime