MNB reminds bank clients of data reconciliation deadline
Photo by Adriana Iacob/Shutterstock.com
A spokesman for the National Bank of Hungary (MNB) has reminded bank clients of the October 31 deadline for complying with stricter rules on identifying account ownership, state news agency MTI reports.
Photo by Adriana Iacob/Shutterstock.com
István Binder noted on public television that the data reconciliation rules apply not only to bank clients, but to members of health insurance funds and life insurance policy holders.
Bank clients who opened accounts before June 26, 2017, when the stricter rules to prevent money laundering and the financing of terrorism came into force, must provide copies of personal identification and proof of residence documents as well as personal information to their banks. Clients must also make a declaration if they are a politically exposed person.
In the case of corporate clients, documents showing proof of business ownership must be resubmitted.
Clients who fail to comply with the new rules by the deadline will not be able to make transactions using their accounts.
Lawmakers earlier pushed back the compliance deadline from June 26.
ÁKK Sells HUF 50 bln of Bonds at Auction, Over Plan
Hungary to Address Future of Cohesion Policy During EU Presi...
Foreign-owned Companies Generate Over Half of E-tail Turnove...
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
.jpg)
