• We are required by law to have documented knowledge of our customers. This is to protect both you and us from being exploited for criminal purposes, which is an important part of our social responsibility.
• It is important to us that you, as our customer, feel confident in us as your bank. We ask these questions because we care about society and our customers, and because we are required to do so by law. To prevent society and the financial system from being exploited for money laundering and terrorist financing, laws and regulations have been implemented in most of the world’s economies. These laws and regulations place strict requirements on banks to have good customer due diligence procedures (Know Your Customer, KYC) and knowledge of their customers’ business dealings, as well as a good understanding of the purpose of the various transactions performed by their customers.
• The bank is also obliged to verify which person or persons, on their own or together with related parties, ultimately own or control the bank’s customers. Our obligation is established in the Swedish Act (2017:630) on Measures against Money Laundering and Terrorist Financing and in the Swedish Act (2017:631) on Registration of Beneficial Owners. We ask all our customers questions, and we process your answers within the framework of banking confidentiality. 

Why we need answers - knowledge for us, security for you