Declaration on Beneficial Owner
The Act. No. CXXXVI./2007. on Anti-Money Laundering and Counter-Terrorism Financing (hereinafter referred to as AML/CTF Act.) prescribes the range of obligations of the service providers and financial institutions in order to prevent money-laundering and terrorism financing.
The service providers must request the customer (in case of legal entities or organizations without legal entities the person personally representing the company or organization) to make a written declaration on the identity of the beneficial owner (at the time of signing a contract or in other cases when applicable by law) as part of the so-called customer due diligence. The law places particular emphasis on the contents of the declaration in case of legal entities and organizations without legal entity. In these cases if there is no private person defined as beneficial owner in sub-points ra) and rb) of point 3.§ r) of AML/CTF Act., then beneficial owner is CEO of the represented entity.
The acting person - during the implementation of a contract or transaction - has to give the name, address, citizenship, place of residence in Hungary (in case of foreign citizens), type and no. of identification document, place and date of birth, mother’s maiden name of beneficial natural owner(s) in the Declaration respectively has to mark whether the beneficial owner is considered public figure or not, if yes the reason why he/she is public figure and the source of funds should be also marked – in accordance with the AML/CTF Act.
The law requires the credit institutes to record the above data of the beneficial owner into their records, or in case the owner fails to provide such data, to deny the execution of transaction orders.
Please note that the declaration in any case shall be made and signed by the Company’s representative who has authorized signature rights and is registered at our bank. When a company or organization has more than one accounts, each account needs a declaration. The Declaration of Beneficial Owner form may be photocopied.
In case of any questions raised by filling in the Declaration of Beneficial Owner, please contact our customer service by telephone (+36 1 473 4440), or the account holding Branch.
Budapest, 25th of July, 2013
KDB Bank Europe Ltd.