The European Banking Authority (EBA) published, on 22 November 2022, the attached Guidelines on the use of remote customer identification solutions under Article 13(1) of Directive (EU) 2015/849. These Guidelines apply from 2 October 2023 and set common EU standards for the development and implementation of sound, risk-sensitive customer due diligence (CDD) procedures in the context of remote identification of new customers.
In particular, these Guidelines set out the steps that credit and financial institutions should take when adopting or reviewing solutions to comply with their obligations under Article 13(1) points (a), (b) and (c) of Directive (EU) 2015/849 to onboard new customers remotely. It also sets out the steps credit and financial institutions should take when relying on third parties in accordance with Chapter II, Section 4 of Directive (EU) 2015/849, as well as the policies, controls and procedures credit and financial institutions should apply in relation to CDD as referred to in Article 8(3) and (4) point (a) of Directive (EU) 2015/849 when CDD measures are applied remotely.
The ICCS urges all Life insurance undertakings to comply fully with the EBA Guidelines by incorporating them appropriately into their policies, controls and procedures.
Guidelines on the use of Remote Customer Onboarding Solutions.pdf