verification of legal documentslegal representatives
Cote d'Ivoire (Ivory Coast).
Working paper: Regulatory Framework for Digital Financial Services in Côte d’Ivoire
AML law and regulations became effective in 2007 and are only applicable for banks.
Yes, an update of the customer database is required.
No, there are no minimum transaction thresholds under which customer due diligence is not required.
verification of the identity and address of the customer by reference to official identity papers
for legal entities, the verification of legal documents and legal representatives is required
The requirements are:a) obtain information on the beneficial owner; and b) verification of the identification and the address of the professional intermediary.
Customer due diligence arrangements are reduced for low value transactions.
For a PEP, the bank’s senior management may give authorisation before opening an account. The transactions in their accounts require heightened scrutiny.
Banks must acquire information on the compliance of their correspondent with AML regulation. The relationship must not be established if the correspondent is not compliant with AML regulation.
For a non face-to-face relationship, a bank must consider the need to perform independent verification.
National Centre for Processing of Financial Information (“CENTIF”)
No, there is no risk based approach approved by the local regulator.
None in practice. Copies of identification documentation are only made by the bank after a visual check. Independent verification is not required