The Swedish Anti-Money Laundering Act requires us to perform proper due diligence on our customers and their banking business. We must understand the purpose of the business relationship and your various transactions.
The Act also requires us to determine whether you are a PEP, meaning a politically exposed person, or the family member or close associate of a person with a prominent function within a government, a state-owned company, or an international organisation.
As regards organisations, we need information about who owns or holds significant influence – a stake of more than 25 per cent – in the organisation, i.e. who the beneficial owner is.