Compliance Guide for Anti-Money Laundering (AML) and Know-Your-Customer (KYC) Regulations in Uzbekistan

Identity Verification Requirements

The AML/KYC regulations in Uzbekistan require businesses to verify the identity of their customers. The following attributes are necessary for identifying natural persons from official documents:

Name
Address

Compliant CDD Methods

To perform Identity Verification, businesses can apply the following measures:

Independent Sourced Documents

Photo-based biometric identification documents (e.g., passports)
Specialized Document Verification services

Documents Required for Verification

The following documents are acceptable for Proof of Identity and Address Verification in Uzbekistan:

Driving licenses
Passports
Utility bills
Bank statements
Government-issued documents

Timing of Verification

Identity Verification is not a one-time process. It should be repeated in multiple instances as per regulations, including:

Onboarding new customers
Dealing with transaction data
Facing higher risks from customers

Politically Exposed Persons (PEPs) and EDD Measures

In the absence of explicit regulations, clients may utilize Enhanced Due Diligence measures for high-risk End-users. Shufti Pro provides an AML Screening service that screens ID attributes against watchlists and databases.

Reliance on External Services

Clients may seek the services of a third party for fulfilling AML/KYC obligations but remain liable for maintaining regulatory compliance and fulfilling these obligations.

Record Retention

Data must be retained for not less than five years as part of AML and KYC obligations for due diligence.

By following these guidelines, businesses in Uzbekistan can ensure they are compliant with the country’s AML and KYC regulations, protecting themselves from potential risks and reputational damage.