Why is it important

Under the Estonian Money Laundering and Terrorist Financing Prevention Act, BBCTallinn is legally required to verify the identity of all clients before providing services. This process helps ensure compliance with local regulations and protects all parties involved.

How we carry out the KYC process

Our customer due diligence process is divided into two stages: identification and background information collection.

1. Customer identification

Identification is conducted either during a face-to-face meeting with a BBCTallinn representative or via a secure video call using platforms such as Google Meet or Zoom.

For legal entities, we require copies of incorporation documents and a valid certificate or current extract from the official business registry of the company’s country of registration.

2. Customer background check

Clients are asked to complete a KYC form provided by BBCTallinn. This form includes information about the beneficial owner, sources of funds, business activities, and the purpose and nature of the expected transactions.

Why KYC benefits our clients

While the KYC process may seem like an administrative step, it offers clear benefits. At BBCTallinn, we see it as a chance to better understand our clients and provide services that are more relevant and tailored to their needs.

All information shared during the KYC process is treated with strict confidentiality and is accessible only to a limited number of authorised BBCTallinn team members.

What does Know Your Customer mean?

Know Your Customer, or KYC, is a widely used practice in the consulting and financial services industry. It involves verifying the identity of clients before beginning active cooperation. This process plays a key role in the prevention of money laundering and terrorist financing, and helps to build trustworthy and compliant business relationships.