Updates in your KYC Toolbox from 15.09.2020
ADJUSTMENT: PROCESS AUTOMATED DATA DELETION
The functionality of data deletion if the Document Storage is not activated, has been revised. This update only affects customers who have not activated the Document Storage.
NEW The initial entry date of the KYC FILE is relevant for data deletion. Four weeks after the KYC FILE has been created, the file is automatically deleted, including all the linked data.
Example: The KYC FILE "Berlusconi PEP" was created on 15.07.2020. For the conservation partner Silvio Vanadia Berlusconi, as well as the contractual partner mediaset, additional data was collected using various tools. If the Document Storage is not activated, four weeks later, on 12.08.2020, the KYC FILE including all the linked data will be deleted irrevocably.
This process will be activated for the first time on September 22, 2020 and thus all KYC FILES with a creation date prior to July 25, 2020 will be deleted, if you have not contracted the Document Storage.
We don’t expect any noticeable interruptions or delays.