In Latvia, as elsewhere in the world, financial institutions (including banks and insurance companies) are obliged by laws and regulations to implement the Know Your Customer principle in order to prevent potential risks of money laundering and terrorism and proliferation financing.
Legal requirements
In order to do so, all financial institutions are obliged to obtain information about their customers and the origin of their funds in accordance with the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing (hereinafter referred to as the Law) (LV).
Section 28 of the Law obliges financial institutions to request and customers to provide financial institutions with information and documents necessary for customer research, including information on the beneficial owners, transactions executed by the customers, economic and personal activity, financial position, sources of money or other funds of the customers and beneficial owners. In individual cases, financial institutions may request other additional information.
Customer data questionnaires
Companies of SEB Group in Latvia (i.e. AS “SEB banka”, SEB Life and Pension Baltic SE, SIA “SEB līzings”, AS “SEB atklātais pensiju fonds”, IP AS “SEB Investment Management”) collect information about customers using customer data questionnaires.
In order for a financial institution to comply with its obligation under the Law, it is necessary to update the questionnaire regularly, including whenever there is a change, such as a change in the country of tax residence or the status of a politically exposed person.
The customer data questionnaire form for private customers (PDF) and for corporate customers (PDF) is available for download and completion.
How to update data?
Data can be updated by:
-
uploading the completed customer data questionnaire onto the SEB E-document signing site and signing it with the SMART-ID.
-
completing the data form, signing it with a secure electronic signature (eParaksts) and sending it to:dziviba@seb.lv.
If the questionnaire is not completed
According to the Law, financial institutions are required to keep and regularly update the documents and data obtained in the course of customer research. If the questionnaire is not completed, the financial institution cannot comply with its obligations under the Law and therefore access to services may be restricted until the data is updated. In order to comply with the requirements of the Law to identify the customer and obtain the information and documents necessary for customer research, SEB Life and Pension Baltic SE regularly reminds customers of the need to update the questionnaire using all available channels (SMS, calls, e-mails, mail).
Use of the data obtained
We will process the information provided in the questionnaire in order to update your data with SEB Life and Pension Baltic SE. The basis for processing the personal data you provide is to comply with the requirements of the above mentioned Law.
SEB Life and Pension Baltic SE as the data controller (single registration number 40003012938, legal address: Antonijas iela 9, Riga, LV-1010; email: dziviba@seb.lv) processes personal data in accordance with the SEB Privacy Policy*, Section 5 of which provides, inter alia, for the transfer of the Customer's personal data to other SEB Group companies and their affiliates, including AS “SEB Banka”, subject to the grounds for processing set out in Section 3 of the Privacy Policy.
In case of any questions, please contact: dziviba@seb.lv.
* As a data subject, you have several rights, including the right to request access to your personal data from SEB Life and Pension Baltic SE and AS “SEB banka”. For more information on the processing of personal data, including your rights, please visit the Privacy Policy section of the AS “SEB banka” website www.seb.lv here: Privacy Policy or at SEB customer service points.
