WHITEPAPER

Legal Compliance References: understanding the big change and opportunities of the new AML regulation worldwide 

1-Feb-07-2022-03-18-01-90-PM

This report will help you:

  • Discover the timeline of video identification in the financial industry and its regulations.

  • Understand what the new AML regulation means for the financial industry, what changes and what are its opportunities.

  • Learn how to gain access to a unique marketplace of 508 million customers thanks to eIDAS standardisation.

  • The countries’ regulatory scope in the AML and KYC fields and our recommendations.

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Identity Verification Solutions

From eID we offer KYC (Know Your Customer), customer onboarding and digital identity solutions and services that help our customers to provide theirs a unique, simple, frictionless, high-security experience that meets the highest standards required in international regulations. AML (Anti-Money Laundering) and eIDAS (Electronic Identification, Authentication and etrust Services) regulations are remodeling the market by allowing customer acquisition processes to be reduced from weeks to seconds to, for example, open a bank account online with total security and complying with the law.

Our Video IDentification, Advanced and Qualified Electronic Signature, and Facial Biometric Authentication services are transforming the way in which companies and customers interact. Current eKYC solutions, powered by Artificial Intelligence and Machine Learning allow businesses in any sector, such as banking, insurance, financial and investment services, to be digitally transformed, reduce digital customer onboarding costs and grow by offering a unique user experience.

© Electronic Identification, 2021

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Web Legal Notice

Legal Notice and Acceptance

This Legal Notice regulates the access and use of the Internet portal corresponding to the address: www.electronicid.eu (hereiafter, the “Portal”) for which the responsible entity is “Electronic Identification, S.L.” residing at Avenida Ciudad de Barcelona 81- A Planta 4ª, 28007, Madrid, and C.I.F. nº B86681533, nd registered in the Mercantile Registry of Madrid, Tomo: 30920, Book: 0, Foil: 146, Section: 8, Page: M556508 on 3 April 2013 (hereinafter referred to as "the Service Provider").

Access to the website is free except for the cost of connection through the telecommunications network provided by the access provider contracted by users. The use of the Portal attributes the condition of Portal user (hereinafter, the 'User') and implies the acceptance of all the conditions included in this Legal Notice.

The provision of the Portal service has a duration limited to the moment in which the User is connected to it or to any of the services provided through it. Therefore, the User must carefully read this Legal Notice on each of the occasions on which it intends to use the Portal, as it and its conditions of use may be modified.

Intellectual and industrial property

All the contents of the Portal, understood by these as merely enunciating texts, photographs, graphics, images, icons, technology, software, links and other audiovisual or sound content, as well as their graphic design and source codes (hereinafter, the "Contents"), are the intellectual property of the Service Provider or third parties, without being understood to be transferred to the User any of the exploitation rights recognized by current legislation on intellectual property on them, recognizing only the mere use of those that are strictly necessary for the use of the Portal.

Trademarks, trade names or logos are the property of the Service Provider or third parties, and access to the Portal may not be construed as conferring any right over such trademarks, trade names and / or logos.

Terms of use of the portal
  1. Overview

    The User is obligated to make correct use of the Portal in accordance with the Law and this Legal Notice. The User shall be liable to the Service Provider or to third parties for any damages that may be caused as a result of the breach of this obligation.

    It is expressly prohibited to use the Portal for purposes that are harmful to the goods or interests of the Service Provider or third parties, or that in any other way overload, damage or render useless the networks, servers and other computer equipment (hardware) or computer products and applications (software) of the Service Provider or third parties.

  2. Items

    The User undertakes to use the Contents in accordance with the Law and this Legal Notice, as well as any other conditions, regulations and instructions that may be applicable.

    By way of illustration only, the User, in accordance with current legislation, must abstain from:

    • Reproduce, copy, distribute, make available, publicly communicate, transform or modify the Contents except in cases authorized by law or expressly consented to by the Service Provider or who holds the ownership of exploitation rights where appropriate.

    • Reproduce or copy for private use the Contents that may be considered as Software or Database in accordance with current legislation on intellectual property, as well as its public communication or made available to third parties when these acts necessarily involve reproduction by the User or a third party.

    • Extract and / or reuse all or a substantial part of the Contents of the Portal, as well as databases that the Service Provider makes available to Users.

  3. Adding links to the Portal

    Internet users who wish to introduce links from their own web pages to the Portal must comply with the conditions detailed below without the ignorance of them avoiding the responsibilities arising from the applicable regulations.

    The link will only link to the "home page" or main page of the Portal but may not reproduce it in any way (inline links, copy of texts, graphics, etc.).

    It will be prohibited in any case, in accordance with applicable legislation and in force at any time, to establish "frames" or frames of any kind that involve the Portal or allow the display of Content through Internet addresses other than those of the Portal and, in any case, when viewed together with content outside the Portal so that: (I) produces, or may produce, error, confusion or deception in users regarding the true origin of the service or Content; (II) involves an act of comparison or unfair imitation; (III) serves to take advantage of the reputation of the brand and prestige of the Service Provider; or (IV) in any other way is prohibited by current legislation.

    From the page that introduces the link, no false, inaccurate or incorrect statement will be made about the Service Provider, its partners, employees, clients or the quality of the services it provides.

    In no case shall it be expressed on the page where the link is located that the Service Provider has provided its consent for the insertion of the link or otherwise sponsors, collaborates, verifies or supervises the services of the sender.

    The use of any word, graphic or mixed mark or any other distinctive sign of the Service Provider within the page of the sender is prohibited, except in the cases permitted by law or expressly authorised by the Service Provider, and provided that, in these cases, a direct link to the Portal is permitted in the manner established in this clause.

    The page that establishes the link must faithfully comply with the law and may not in any case have or link to its own content or that of third parties: (I) are unlawful, harmful or contrary to morals and good customs (pornographic, violent, racist, etc.); (II) induce or may induce in the User the false conception that the Service Provider subscribes, endorses, adheres or in any way supports, the ideas, statements or expressions, legal or illegal, of the sender; (III) are inappropriate or not relevant to the activity of the Service Provider in view of the place, content and subject matter of the website of the sender; (III) are inappropriate or irrelevant to the activity of the Service Provider in view of the place, content and subject matter of the website of the user.

Exclusion of liability
  1. Quality of service

    Access to the Portal does not imply any obligation on the part of the Service Provider to control the absence of viruses, worms or any other harmful computer element. It is the responsibility of the User, in any case, the availability of adequate tools for the detection and disinfection of harmful computer programs.

    The Service Provider is not responsible for any damage to the computer equipment of Users or third parties during the provision of the Portal service.

  2. Service Availability

    Access to the Portal requires services and supplies from third parties, including transportation through telecommunications networks whose reliability, quality, continuity and operation does not correspond to the Service Provider. Consequently, the services provided through the Portal may be suspended, cancelled or inaccessible, prior to or simultaneous with the provision of the Portal service.

    The Service Provider shall not be liable in any case for any damages of any kind produced for the User, resulting from failures or disconnections in telecommunications networks that cause the suspension, cancellation or interruption of the service of the Portal during the provision of the same or in advance.

  3. Of the contents and services linked through the Portal

    The Portal access service may include technical linking devices, directories and even search tools that allow the User to access other Internet pages and portals (hereinafter referred to as 'Linked Sites').

    In these cases, the Service Provider acts as an intermediary service provider in accordance with article 17 of Law 34/2002, of 12 July, on Information Society Services and Electronic Commerce (LSSI) and will only be responsible for the contents and services provided on the Linked Sites to the extent that it has effective knowledge of their illegality, and has not deactivated the link with due diligence.

    In the event that the User considers that there is a Linked Site with illegal or inappropriate content may notify the Service Provider in accordance with the procedure and effects set out in clause 5, without in any case this communication entails the obligation to remove the corresponding link.

    In no case, the existence of Linked Sites should presuppose the existence of agreements with those responsible for or owners of them, nor the recommendation, promotion or identification of the Service Provider with the statements, content or services provided.

    The Service Provider is not aware of the contents and services of the Linked Sites and is therefore not liable for damages caused by the illegality, quality, non-updating, unavailability, error and uselessness of the contents and/or services of the Linked Sites or for any other damage that is not directly attributable to the Service Provider.

Comunicación de actividades de carácter ilícito e inadecuado

In the event that the User or any other Internet user becomes aware that the Linked Sites refer to pages whose contents or services are unlawful, harmful, denigrating, violent or contrary to morals; or that any of the information included by the Users themselves, through the services offered on the Portal, have a consideration equal to that described above, you may contact the Service Provider indicating the following points:

  • Personal data of the communicator: name, address, telephone number and e-mail address;

  • Description of the facts that reveal the illicit or inadequate character of the Linked Site;

  • In the event of violation of rights, such as intellectual and industrial property, the personal data of the owner of the right infringed when it is a person other than the communicator. Likewise, they must provide the title that accredits the legitimacy of the holder of the rights and, where appropriate, that of representation to act on behalf of the holder when he/she is a person other than the communicator;

  • Express statement that the information contained in the claim is accurate.

If the aforementioned information is not provided, the concurrence of effective knowledge, according to the provisions of the LSSI, of the activities and/or contents indicated by the communicator cannot be considered.

Applicable law

This Legal Notice is governed in each and every one of its extremes by Spanish legislation.