Know Your Customer

- our commitments and actions

What is the 'Know Your Customer' procedure?

Know Your Customer (KYC) is the so-called "due diligence procedure" that we use to know our client and the business they are conducting. All this is done to prevent fraud, money laundering and the financing of terrorism.

The steps we take and the mechanisms we use make it possible to ascertain the true identity of the client, to get to know him better and to minimise the risk of cooperation. Thanks to the steps taken, we are able to comply with the requirements of the AML Act (see law).

Legal basis

According to the AML Law, all obliged institutions must have and apply an internal AML procedure. The document describes how to implement the requirements set out in the AML legislation and guidelines. Autopay, as a national payment institution, is obliged to comply with the adopted procedure.

Recommendations for specific KYC tasks are developed and initiated by, among others, the Financial Action Task Force, the European Banking Authority and the European Union authorities - in the form of the Anti Money Laundering (AML) Directives on anti-money laundering activities .

Action we are taking

The data necessary for assessing the reliability of the customer are obtained by us through theregistration form, which is to be completed by anyone wishing to use Autopay Online Payments on their website.

Therefore, the form includes questions about:

  • personal and contact details
  • company data
  • details of shareholders
  • data of beneficiaries
  • type of activity (legal status)
  • the type of products or services sold

In order to successfully complete the registration process and be able to activate online payments, it is necessary to make averification transfer. We use this mechanism to verify that the data entered during registration are correct and free of errors.