Regulatory Alerts2022-05-17
Guidance on Expired Passports as Identification for Customer Due Diligence
AML/CFT supervisors clarify that expired passports do not meet the standard for primary identification under the Amended Identity Verification Code of Practice 2013. Reporting entities may only accept expired passports through a documented exception handling procedure rather than as part of normal business operations. Entities must apply a risk-based approach to assess validity and reliability, ensuring appropriate processes are in place even if they have opted out of the code.
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