KYC Procedures for Banks in Namibia: A Call to Action for Existing Customers
As part of its efforts to comply with the Know Your Customer (KYC) requirements of the Financial Intelligence Act (FIA), First National Bank of Namibia has embarked on an exercise to verify the information of all existing customers who opened bank accounts prior to May 5, 2009. The bank is also required to validate the particulars of customers seeking new or additional products and services.
Why KYC Matters
The Know Your Customer (KYC) process is crucial in maintaining transparency and integrity in financial transactions. It helps banks to:
- Verify the identity of customers
- Prevent money laundering and terrorist financing
- Comply with regulatory requirements
- Protect customer information and prevent fraud
What You Need to Do
First National Bank is urging its customers who opened bank accounts prior to May 5, 2009, to visit their nearest branch when required to do so. This exercise is necessary for the bank to:
- Verify your identity and other personal details
- Validate your account information
- Ensure that you are aware of your banking products and services
How to Get in Touch
For any further information or clarification on this matter, customers can contact First National Bank’s call centre at 061-299 2222 or email CallCentre1@fnbnamibia.com.na.
Security and Confidentiality
First National Bank is committed to ensuring that your information is protected and handled in accordance with the highest standards of security and confidentiality. Your cooperation and understanding are greatly appreciated as we work together to maintain a secure and transparent banking environment.
Remember, your assistance in this process will help us to better serve you and prevent any potential risks or issues in our operations.