As a financial institution, Mandatum has a legal obligation to identify and know all its customers.
As a financial institution, Mandatum has a legal obligation to identify and know all its customers. We ask for your customer relationship information at the start of the customer relationship and regularly throughout it to verify that the information is up to date.
In addition to up-to-date personal information, the company is required to have sufficient and up-to-date information on, among other things, its customers’ activities, nature and extent of business, financial standing, grounds for use of transaction or service and information on source of funds. These obligations are based on legislation intended to, in addition to other things, prevent money laundering, the funding of terrorism and financial crimes. By collecting this information, we, as required by legislation, aim to understand the customer’s typical activities and to detect deviations.
Under international tax legislation that is binding in Finland (FATCA, CRS and DAC2), Mandatum must know the country/countries in which the customer is generally liable to pay tax, i.e. the customer’s tax domicile and report customers tax resident outside of Finland to the Finnish Tax Administration.
We ask for your customer relationship information at the start of the customer relationship and regularly throughout it. By providing us with the information we request, you help us in our efforts to fight crime and you bear your social responsibility.
If Mandatum doesn’t receive all necessary information, according to legislation it may not establish a customer relationship, conclude a transaction or maintain a business relationship. All the information you provide will be kept confidential according to the legislation concerning secrecy (such as the insurance secrecy obligation) and protection of personal data.
Customer information and other personal data can be used for the purpose of preventing, investigating and uncovering money laundering and terrorist financing, and for raising an official investigation into money laundering or terrorist financing and into the crime with which the property or the criminal benefit related to money laundering or terrorist financing was obtained. More information regarding the processing of personal data here.
