What type of identification do I need to sight and verify to complete the KYC obligations?
A. You need to sight reliable and independent documentation. Chapter 1 of the AML/CTF Rules states that reliable and independent documentation includes, but is not limited to, an original primary photographic identification document, an original primary non-photographic identification document and an original secondary identification document. You may rely upon other documents not listed above as reliable and independent documents, where that is appropriate having regard to the money laundering and terrorism financing risk. For example, the minimum applicable identification for individuals that you must collect includes: customer’s full name, date of birth and residential address. You must also verify a customer’s full name and either date of birth or residential address. It is important to note that you may need to collect additional KYC information depending on risk.
