Can you use an expired passport for KYC?

You may rely on other documents if this is appropriate for the level of money laundering/terrorism financing risk associated with the customer, the transaction and the designated service. The documentation must be current – although passports can be used if they are no more than two years past their expiry date.

What are know your customer requirements?

The Know Your Customer Rule 2090 essentially states that every broker-dealer should use reasonable effort when opening and maintaining client accounts. It is a requirement to know and keep records on the essential facts of each customer, as well as identify each person who has authority to act on the customer’s behalf.

What is reliable and independent source?

In the digital ID context, the requirement that digital “source documents, data or information” must be “reliable, independent” means that the digital ID system used to conduct CDD relies upon technology, adequate governance, processes and procedures that provide appropriate levels of confidence that the system …

What is ifti reporting?

Money transferred to and from overseas: International funds transfer instruction (IFTI) reports. an instruction that is accepted in Australia for money or property to be made available in another country, or. an instruction that is accepted in another country for money or property to be made available in Australia.

What is AUSTRAC reporting?

The compliance report is a report you submit to AUSTRAC each year that includes questions about how you have met your anti-money laundering and counter-terrorism financing (AML/CTF) obligations.

Is expired passport a valid ID in India?

No, an expired passport isn’t a form of valid identification for domestic flights.

What two forms of ID can you use?

Valid Forms of ID

Valid Driver’s License.
Birth Certificate.
State-issued Identification Card.
Student Identification Card.
Social Security Card.
Military Identification Card.
Passport or Passport Card.

Is KYC a Binance?

“Binance allows customers to create accounts, use basic functions and perform limited transactions without submitting KYC information. Changpeng Zhao, the company’s CEO told Bloomberg, “We have chosen to go with full compliance, full mandatory KYC for global users, for every feature.

What is AML rules?

The purpose of the AML rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.