On October 9, 2019, the Financial Supervisory Authority (Finansinspektionen) published proposed amendments to the regulations (FFFS 2017:11) on measures against money laundering and terrorist financing. The amendments form part of the implementation of the 5th Anti-Money Laundering Directive (5th AMLD), amending Directive (EU) 2015/849.
Among other things, the amendments propose changes to the requirement for identity verification of a “true principal” (natural person).
Amendments propose a series a steps to identify and verify a natural persons identity, as required by Article 13(1) of the 5th AMLD, which specifies steps for verification of identity of a natural person.
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