44. In addition to the above, and where commensurate with the ML/TF risk associated with the …

In addition to the above, and where commensurate with the ML/TF risk associated with the business relationship, credit and financial institutions should use of one or more of the following controls or a similar measure to increase the reliability of the verification process. These controls or measures may include, but are not limited to, the following:

• a) the first payment is drawn on an account in the sole or joint name of the customer with an EEA-regulated credit or financial institution or in a third country that has AML/CFT requirements that are not less robust than those required by Directive (EU) 2015/849;
• b) send a randomly generated passcode to the customer to confirm the presence during the remote verification process. The passcode should be a single-use and time-limited code;
• c) capture biometric data to compare them with data collected through other independent and reliable sources;
• d) telephone contacts with the customer;
• e) direct mailing (both electronic and postal) to the customer.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/