Kyrgyzstan’s Passport and Driving License Requirements: A Guide to Identity Verification
In a bid to combat money laundering and terrorist financing, the government of Kyrgyzstan has implemented strict regulations regarding identity verification for passports and driving licenses. In this article, we will delve into the documents required as proof of address, timing of verification, politically exposed persons, reliance on external services, record retention, and more.
Proof of Address: What You Need to Know
In Kyrgyzstan, the following documents are considered proof of address:
- A current utility bill (such as gas, electricity, telephone or mobile phone bill)
- Government department-issued document containing the end-user’s address and name
- Bank statement not older than three months, containing the end-user’s address and name
Timing of Verification: When to Deploy Identity Verification Procedures
Identity verification is not a one-time process. In fact, it is required in multiple instances as per recommendations. You should pursue identity verification when onboarding a new customer. If you are dealing with transaction data, you should apply identity verification as per the monetary thresholds defined in Kyrgyzstan’s regulation.
Politically Exposed Persons and EDD Measures
As per Enhanced Due Diligence requirements under Kyrgyzstan regulations, you are required to determine if your customer is a Politically Exposed Person (PEP), holds a public office, or exhibits a higher risk profile. Shufti Pro provides an AML Screening service that screens an individual’s selected ID attributes of Name and DOB against watchlists of global regulatory authorities, foreign and domestic databases, compromised PEPs, and sanctioned individuals.
Reliance on External Services
In the absence of explicit regulations, clients may seek the services of a third party for fulfilling AML/KYC obligations. However, regardless of reliance on a third party, you will remain liable for maintaining regulatory compliance as well as fulfilling AML and KYC obligations.
Record Retention: Keeping it in Check
As per Kyrgyzstan’s regulation, you are required to retain data for not less than five years. These records are part of your AML and KYC obligations for due diligence. In the case where this information is processed, collected, and managed by a relevant third party, you are liable to collect all necessary information (Due Diligence Data) from the third party without undue delay.
Conclusion
By understanding these regulations and guidelines, you can ensure compliance with Kyrgyzstan’s laws and regulations regarding passport and driving license requirements. Remember to always verify identities, keep records, and stay vigilant in your fight against money laundering and terrorist financing.