According to the Act on Credit Institutions and the Act on Detecting and Preventing Money Laundering and Terrorist Financing, the bank must identify its customers, authenticate the customers’ identity with a document accepted as a proof of identity and store the information of that proof of identity in its archive. The bank must also know what kind of business the customer has with the bank and what kind of services the customer wishes to use. The bank is obliged to monitor the customer’s business and use of the service so that the bank can identify any unusual or deviating transactions and react to them. The so-called due diligence information collected by the bank includes, in addition to the basic information, information about financial standing, tax liability and political exposure. Danske Bank collects due diligence data when the customer relationship is started and regularly after that. The bank has a statutory obligation to assist in the prevention, exposure and investigation of criminal activity and having possible crimes investigated.
According to the Act on Credit Institutions and the Act on Detecting and Preventing Money Laundering and Terrorist Financing, the bank must identify its customers, authenticate the customers’ identity with a document accepted as a proof of identity and store the information of that proof of identity in its archive. The bank must also know what kind of business the customer has with the bank and what kind of services the customer wishes to use. It is the bank’s obligation to monitor the customer’s business and use of the service so that the bank can identify any unusual or deviating transactions and react to them. Your information collected in order to fulfil our statutory obligation regarding due diligence is not used for any other purpose than this. The information will not be used for marketing, for example. The bank has a statutory obligation to assist in the prevention, exposure and investigation of criminal activity and having possible crimes investigated.
The customer information is stored and processed at Danske Bank in adherence to the statutory obligations, official instructions and generally accepted practice related to banking secrecy and data protection.Pursuant to the Personal Data Act, the customer has the right to know what information is stored about the customer in the bank’s customer register. The query must be filed at a branch office or via eBanking. The person making the query must prove their identity. The bank will respond to the customer by letter.
Danske Bank collects due diligence data when the customer relationship is started and regularly after that. We always ask for information from our new customers. If you have become our customer before the entry into force of the current law or if your financial standing or use of banking services has changed, we may need more information than we have or we may need to update the information.
The bank asks information related to due diligence based on obligations derived from legislation and official instructions.Act on Credit Institutions (610/2014)Act on Detecting and Preventing Money Laundering and Terrorist Financing (444/2017)Investment Services Act (747/2012)Act on Common Funds (48/1999)Act on the Book-Entry Securities System and Clearing (749/2012)Act on the Managers of Alternative Funds (162/2014)Act on Taxation Procedures (1558/18.12.1995)
The obligation to respond to the questions comes directly from the legislation related to due diligence, which obliges all providers of financial services. The purpose of the legislation related to knowing the customer is to prevent money laundering, funding of terrorism and financial crime. The underlying concepts are pan-European and international regulations on money-laundering and preventing terrorism funding. This is the reason why we need responses from all of our customers.We offer you the possibility to provide the information the way that best suits you, either online, by telephone or by mail.
When you become our customer, we ask you for the information required by legislation during the meeting or online registration as a customer. If you already are our customer and we ask you to update your information, you can supply the requested information and documents via eBanking or the mobile application using a secured connection, by telephone or by mail. All information you provide is handled confidentially and in accordance with legislation pertaining to collecting and storing personal data.Remember that when we contact you, we will never request your bank identifier or credit card information by electronic mail or telephone. Neither will Danske Bank ever request your card number, validity period or PIN code on its website or in eBanking. Because of security reasons, we do not use electronic mail for sending or receiving confidential information.