Evrotrust’s E-identification Service is Legally Recognized as a Valid Anti-Money Laundering Measure

16.01.2019

The adopted Regulation on the Implementation of the Measures against Money Laundering Act provide for the possibility of remote indentification through a service offered by Evrotrust

The recently adopted Regulation on the Implementation of the Measures Against Money-Laundering Act explicitly provides for the possibility of remote e-identification of natural persons and legal entities through a qualified trust service within the meaning of Regulation (EU) No. 910/2014. This is exactly the service Evrotrust offers, as it is based on attestation of attributes of natural persons and legal entities through a qualified certificates for electronic signatures. The e-identification process of Evrotrust is practically applicable to any client onboarding process by any company obliged to apply anti-money laundering measures. So far the authority supervising the implementation of anti-money laundering measures has been silent on the possibility for remote e-identification. The latest Regulations, however, give an unambiguous answer thereof. Many practical examples may be provided for fully remote client onboarding – identification with a view to opening a bank account, applying for a loan, applying for a credit card, signing of insurance policy, etc. The latest Regulation practically transpose the Fifth Anti-Money Laundering Directive of June 2018.