According to the regulations, a bank must identify the client prior to establishing a business relationship. A bank identifies a natural person by requesting the presentation of a valid personal identification document.
Types of valid personal identification documents are passports (citizens’ passports, noncitizens’ passports, diplomatic passports, service passports, stateless persons’ travel documents, asylum-seekers’ travel documents, travel documents of persons with alternative status) and personal identification cards (citizens’ personal identification cards, non-citizens’ personal identification cards, personal identification cards of staff members of an international organisation accredited in Latvia, personal identification cards of representatives of a diplomatic or consular office, and ID cards issued to persons under temporary protection).
When identifying a legal person, a bank checks documents which prove:
- the establishment or registration of the legal person;
- the customer's legal address;
- the power of attorney or other documents which establish the rights of a specific natural person to represent the legal person in business relationships with the bank.