This section sets out the process for retrieving existing client verification records (i.e. a client’s “KYC Passport”) from the First AML ecosystem as part of First AML’s Standard verification service.
Individual retrievals
Where the KYC Passport being retrieved relates to a client that is an individual, a request to reuse that verification record is sent to the individual:
If the individual consents to the reuse of that verification record, the electronic verification process (see Electronic verification) will be initiated with respect to that retrieved verification record.
If the individual does not consent to the reuse of that verification record, the individual is advised that a new verification is required and the individual verification process (see Individual verification) will be initiated.
Entity retrievals
Where the KYC Passport being retrieved relates to a client that is an entity, a request to reuse that verification record is sent to the client contact (see Client contact). If the client contact consents to the reuse of that verification record, the client verification process (see Client verification) will only be initiated with respect to information that is absent from the retrieved verification record.