Online identification approved by DNB

In May 2020, the Regulation on the Implementation of the Money Laundering and Terrorist Financing (Prevention) Act (the 'European Anti-Money Laundering Directive' or 'AML5') was amended, making it possible to also use electronic means of identification to establish and verify the identity of the customer during customer due diligence.

On 29 April 2021, the Dutch Central Bank published the Q&A on electronic means of identification for clarification. It is good to see that the DNB is seeking alignment with the requirements for electronic identification in the eIDAS. The categories 'substantial' and 'high' are accepted as valid identifiers. For the Dutch market, this means that multiple means can be used to comply with AML5, such as iDIN and IRMA, but also passport validation by means of a smartphone app. In the 'high' segment, identification must be carried out by an eIDAS qualified organisation (QTSP) that has been specifically accredited for this purpose. This can be found on the trusted list which includes our partners Cleverbase and QuoVadis, and which is available via the Zynyo platform.

This Q&A will enable the market to better assess which means are best suited to meet the KYC requirements. The solution will be sought in a combination of a legally valid means, ease of use (for the customer as well as technical feasibility) and costs.