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Individuals identified under customer due diligence

Collection​ ​of​ ​personal​ data

In accordance with Law no. 129/2019 on the prevention of and combating money laundering and terrorism financing, we are obliged to apply client due diligence measures. This requires identifying and verifying the identities of the following individuals:

  • Beneficial owners of the clients;
  • People claiming to act on behalf of the clients.

The information we collect from clients includes data from your identity documents and, if the case, indication that you are a publicly exposed person or a family member / person known to be a close associate of a publicly exposed person.

Use​ ​of​ ​personal​ data

We use information held about you solely for the purpose of complying with our obligations under Law no. 129/2019. The data is not used in a way that is incompatible with this purpose.

Legal basis for processing

We hold and process your data on a lawful basis (i.e. the provisions of Law no. 129/2019). The processing of personal data under Law no. 129/2019 is regarded as necessary for the performance of a task carried out in the public interest, in accordance with the provisions of Regulation (EU) 2016/679.

If the data required for client due diligence is not provided, we are prohibited by law from establishing or continuing a business relationship with the respective client and obliged to file a report with the National Authority for the Prevention of and Combating Money Laundering.

Data retention

In accordance with the legal requirements, we keep the data collected under client due diligence processes for a period of five years as of the date of termination of the business relationship with the respective client. Such terms may be extended by five years at the request of the competent authorities. The data is deleted upon expiry of the retention period.

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