Know Your Customer (KYC) Policy

Last updated: September 18, 2024

1. General Provisions

Transnational Consulting Group KFT conducts the KYC process in compliance with international anti-money laundering (AML) standards, Hungarian and European legislation, including the EU 4th Anti-Money Laundering Directive.

2. Mandatory Data for Individuals

• Full name;
• Identification document (passport, ID card);
• Proof of residence (utility bill, not older than 3 months);
• Information on the source of income (bank statements, tax returns).

3. Mandatory Data for Legal Entities

• Company registration certificate;
• Articles of Association;
• Identification of beneficial owners (passport and proof of address for owners with more than 25%);
• Financial statements of the company.

4. Procedures and Verification

We may conduct checks through international databases to verify the client’s identity and financial reputation. If suspicious transactions are identified, we are obliged to report them to the relevant authorities, including the European Anti-Money Laundering Authority (AMLD).