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Croatia’s Identity Verification Requirements: A Comprehensive Guide
In Croatia, identity verification plays a crucial role in ensuring compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. The country has implemented strict guidelines for verifying the identities of customers to prevent financial crimes.
Document Verification
Shufti Pro’s specialized document verification service uses advanced security features such as holograms, tapered edges, doctored elements, form inconsistencies, expiration dates, MRZ, reflected colors, and microprinting to authenticate documents. Our team of experts carefully examines each document to ensure its authenticity.
Required Documents
In Croatia, the following documents are considered proof of identity:
- National ID card
- Driving license
- Passport
- Other valid photo ID
For address verification, the following documents are accepted:
- A current utility bill (issued within three months) showing the end-user’s address and name
- Bank statement (issued within three months) showing the end-user’s address and name
- Document issued by a government department showing the end-user’s address and name
Timing of Verification
Identity verification is not a one-time process. It is required in multiple instances, as per regulations. The timing of verification depends on your requirements and conveyance to Shufti Pro. You are advised to conduct identity verification when onboarding a new customer or dealing with transaction data exceeding monetary thresholds defined by Croatian regulations.
Politically Exposed Persons and Enhanced Due Diligence
As part of the Enhanced Due Diligence (EDD) requirements under Croatia’s AML regulations, you must determine if your customer is a Politically Exposed Person (PEP), holds a public office, or exhibits a higher risk profile. Shufti Pro offers an AML Screening service that screens an individual’s selected ID attributes against watchlists of global regulatory authorities, foreign and domestic databases, compromised PEPs, and sanctioned individuals.
Reliance on External Services
Croatia’s regulations permit you to seek the services of a third-party provider for due diligence measures. However, you remain liable for maintaining all compliance records and fulfilling AML and KYC obligations, regardless of reliance on an external service provider like Shufti Pro.
Record Retention
As per Croatia’s Act, you are required to retain data for at least ten years as part of your AML and KYC obligations. If this information is processed, collected, or managed by a relevant third-party provider, you must collect all necessary Due Diligence Data without undue delay.
By understanding and complying with these identity verification requirements, financial institutions can ensure a safer and more transparent financial environment in Croatia. At Shufti Pro, we are committed to providing our clients with the tools and expertise they need to navigate complex regulatory landscapes and maintain compliance with AML and KYC regulations.