What is the Know Your Customer Principle?

In accordance with the requirements of Estonian and international regulatory enactments, the Bank fulfils the requirements of the Know Your Customer principle. Citadele needs to know who its customers are and for what purposes they plan to use or use the bank's products and services. The Know Your Customer principle is aimed at preventing potential risks of money laundering, terrorism and proliferation financing.
The Know Your Customer principle in Estonia is mainly regulated by the following regulatory enactments:

• Money Laundering and Terrorist Financing Prevention Act;

Estonian and European Union guidelines and legislation on the prevention of money laundering and the application of financial sanctions can be found here.