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This is why we ask questions and ask for personal information

Like all other financial institutions, Danske Bank is required to follow the "Know Your Customer Principle". This is to ensure that we have a solid understanding of our clients and their intended purpose of the services we supply. The main purpose of this is to protect you from becoming a victim of financial crime and to counteract money laundering.

What does it mean for you or your company?

If we are missing information or documentation regarding any of the areas listed below, you will be contacted.

  • Copy of your identification papers
  • Information on your citizenship
  • If you are a political exposed person (PEP) or a close family members or known close associates of politically exposed persons
  • The countries to which you are liable for tax, including whether you are liable to tax in the United States

Which questions can you expect us to ask?

The information we have on you or your company must always be up-to-date. Therefore you might experience that we contact you to ensure this. We might enquire:

  • Which products and services in Danske Bank you or your company expect to use
  • Your payment expectations to your personal and business account
  • An overview of persons who approve payments in your company
  • If you are planning to e.g. deposit cash in the account or transfer money abroad

What do we do with the information?

When we have a better understanding of you or your company's financial behaviour- we can better:

  • Protect you from fraud, e.g. when you're making online purchases
  • Identify criminals, as their behaviour deviates from what's seen as normal
  • Counteract money laundering, terrorist financing and other financial crime
  • Assist Norwegian and foreign tax authorities

Who has to share their information with us?

New and existing customers, both private and business, need to update their information. Sometimes it is just an update, other times you might be giving us the information for the first time.

We will contact you using telephone, online banking, letter or email. If you call us or have a meeting with us, we might also ask for information. 

Read more about our processing of personal data in the bank's Privacy Notice


Q&A

  • Why do I have to answer questions and show ID? 

    At Danske Bank, we are committed to protect you against fraud and identity theft, and we focus on working againts money laundering, terrorist financing and other financial crime.

    This is why we need to have a solid understanding of our clients and their intended purpose of the services we supply.

    Example
    A large amount is transferred from your account to an account abroad. If we know in advance that you are a Norwegian citizen, live in Norway and rarely or never transfer money to accounts abroad, we have the opportunity to contact you and ask if this transfer is ok.

    All information about you will be treated confidentially. Please note that we will never ask you for personal codes, PIN codes or other information that may give access to your online banking, mobile banking, cards, accounts ect.

  • What questions do you ask and what do you use them for?
    1. We ask you to confirm your identity with valid identification so that we know that you are who you claim to be
      Either by confirming your ID by using your BankID or by confirming your identity with valid identification papers. Read more about the Money Laundering Act's requirements at Finans Norge (the page is in Norwegian).
    2. We ask for your address
      To make sure we have your updated information.
    3. We ask for your citizenship
      This information makes it easier for us to assess whether transfers to foreign countries are typical for you.
    4. We ask if you are a politically exposed person or a close family member or known co-worker of someone who is 
      Read more about the definition further down in this questions and answers section. 
    5. We might contact you at a later time to update our information about you and the services we supply
      It is a legal requirement that we know our customers and understand how they use the bank, which is why we continually update our information about our customers.

    All information is treated confidentially. We will never ask you to provide us with personal codes, PIN codes or anything else that could provide access to your online banking, mobile banking, cards, accounts etc.

    Here you will find the Money Laundering Act in its entirety (the page is in Norwegian).

  • Do you have the right to ask questions and ask for ID?

    Yes, we have the right and are required to ask the questions necessary to know our customers and their use of the bank.
    Our requirements to know our customers are described in:

    It is the FSA that is the supervisory authority, i.e. monitor whether we and other banks in Norway comply with the regulatory demands.
    It is up to the individual bank to assess which questions/information is seen if it is necessary to collect in order to meet the requirements.

  • What is a political exposed person and why do you ask about this?

    The Anti-Money Laundering Act commit us to disclose if persons who can act on behalf of your company, persons with right of disposal over an account or a deposit, or persons who are the beneficial owners, are or has been politically exposed persons (PEPs). We also have to disclose close family members or known close associates of politically exposed persons.

     

    What defines a Politically Exposed Person (PEP)?
    A PEP is a person who serves or has served in the position or function of:

    1. head of State, head of government, minister or assistant minister;
    2. member of national assembly;
    3. member of a governing body of a political party;
    4. member of a high-level judicial body, the decisions of which are not subject to further appeal, except in exceptional circumstances;
    5. member of the board of an auditor general's office, a court of auditors or a central bank;
    6. ambassador, chargé d’affaires or high-ranking officer of the armed forces;
    7. member of an administrative, management or supervisory body of a State-owned enterprise;
    8. chief executive officer, member of the board or other person in the senior management of an international organisation.

    You are considered to be a politically exposed person for up to 12 months after leaving a position or function.

    You are also considered a politically exposed person if you are a close family member to a politically exposed person; "close family members" are defined a parent, spouse, registered partner, co-habitant or child, as well as a child's spouse, registered partner or co-habitant.

    If you are a "known close associate" to a politically exposed person, this shall also be recorded. A "known close associate" is understood to be a natural person who is known to:

    1. have joint beneficial ownership of a legal entity, association or foreign legal arrangement with a politically exposed person;
    2. have close business relations with a politically exposed person;
    3. have the sole beneficial ownership of a legal entity, association or foreign legal arrangement which has been set up for the de facto benefit of a politically exposed person.

  • Do all these questions throw suspicion on your customers?

    No. We trust our customers and are not in any way looking to throw suspecion on anyone.
    We know that it can be perceived as inconvenient that we ask for ID or contact you to update our information about you. Especially when you have been a faithful customer for many years. However, like the security control at the airport provides every traveller a safe journey, our regular control provides you with a safe banking experience.

  • How do you contact me?

    You may be contacted in different ways. You might recieve a message in your online or mobile phone bank, a letter, a text message or we might call you.

    If we call you, it will be from phone number 987 01 014.

    Please note that we never ask for any personal codes, PIN codes or other information that could give us access to your online banking, mobile banking, cards, accounts etc.

  • Do you contact all customers?

    All our customers has to be registered with a valid ID and answer our questions, no matter how long they have been customers with us.
    We contact you at various times, and there may also be a difference between the questions we ask. You may also find that we contact you several times if we need more information to elaborate on the answers you have already given.

  • Why are my cards and accounts blocked?

    Your cards and accounts are blocked as we lack your customer information or identification. We have been in contact with you to collect this, but unfortunately we cannot see that we have received what we need.

  • What is a PUM?

    PUM is a personal delivery of proof of receipt, and is a consignment the post office in Norway offers us to do identity checks.
    Once the PUM has been ordered from us to you, you will receive a message from the post office when the shipment is ready for pick-up. Upon delivery you will need to present your passport (emergency passport and other identification will not be accepted).


  • What if I don't make the deadline from the post office regarding PUM?

    If you have received a pick up message from the post office, you have two weeks to provide them with your passport. If you missed the deadline, please contact us.