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27.02.2023
In compliance with the requirements of the laws and regulations of the Republic of Latvia and implementing the Know Your Customer policy, Latvijas Pasts, as a licensed payment institution, calls on holders of Postal Settlement System (PSS) accounts to update their customer data in a timely manner. In order to update the information, it is necessary to fill in a customer questionnaire, which customers who have indicated the correct residential address will receive by letters from Latvijas Pasts, or the questionnaire can also be completed on the spot at any post office. The completed questionnaire can be taken to the post office most convenient for the customer, where the post office employee will identify the customer based on identity documents to accept these data.
As a payment institution, Latvijas Pasts, like banks and other financial institutions, has the obligation to implement the Know Your Customer principle in accordance with the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing and the Regulations on the Enhanced Customer Due Diligence issued by the Bank of Latvia.
The Know Your Customer principle aims to ensure a safe environment and prevent possible risks of money laundering and terrorism and proliferation financing. In order to implement this principle, all financial market participants, including Latvijas Pasts, are obliged to obtain information about customers and the origin of their funds.
Based on the validity period of the data provided in the questionnaires of PSS account holders, several thousand customers must update their questionnaire data in 2023. Therefore, reminders and invitations to fill in the customer questionnaires will be sent to account holders in various possible ways – both by sending letters with questionnaires to those customers who can be reached in this way and have indicated the correct residential address and by targeting customers at post offices when providing services.
Latvijas Pasts asks customers to fill in the customer information in the questionnaires within 15 business days of receiving the request, by submitting the questionnaire to the nearest or most conveniently accessible post office and showing an ID. Latvijas Pasts suggests using the last days of the month, starting from the 20th date, when there is a lower flow of visitors to the post offices, so as not to disrupt the work of the post offices and to avoid congestion in the service provision.
Section 28 of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing provides for the right of Latvijas Pasts to request, and the obligation for customers to submit to Latvijas Pasts, information and documents necessary for the due diligence of customers, including information on the beneficial owners of customers, transactions executed by customers, economic and personal activity, financial position, sources of money or other funds of customers and beneficial owners. In some cases, Latvijas Pasts may also request other additional information.
Latvijas Pasts reminds you that in the event of non-fulfilment or partial fulfilment of these requirements, the provision of financial services may be restricted. Therefore, in order to successfully continue the business relationship, it is important to submit the necessary information and required documents in a timely manner.
If you need additional information, please contact Latvijas Pasts employees by calling +371 67608364.
Detailed information on filling in the customer questionnaires can be found here.
Latvijas Pasts has the obligation to guarantee the confidentiality of the identity, accounts, deposits and transactions of customers (Section 61 of the Credit Institution Law). Information on a customer and his or her transactions, which Latvijas Pasts acquires in providing financial services in accordance with concluded contracts, is non-disclosable information, which does not contain official secrets (Section 61(5) of the Credit Institution Law). Latvijas Pasts may provide such information only to the customer himself and his or her representatives, and also to state institutions and officials in the cases specified in the Credit Institution Law (Section 63 of the Credit Institution Law).
About SJSC Latvijas Pasts
Latvijas Pasts ensures the widest availability of postal services throughout Latvia by maintaining more than 600 post offices and an extensive network of indoor and outdoor parcel lockers. The primary function of the company is provision of the universal postal service; Latvijas Pasts also provides commercial transport, express mail, parcel locker, payment, press subscription, retail and philatelic services. Latvijas Pasts is a wholly State-owned company with around 3,000 employees. The quality measurements of Latvijas Pasts domestic mail deliveries are regularly conducted by Kantar TNS, one of the leading market, social and media research agencies in Latvia. In turn, the quality measurements of the cross-border deliveries are provided within the framework of the International Post Corporation through the intermediary of the research companies Kantar TNS, Ipsos and Quotas.
Additional information:
Gundega Vārpa | Head of External Communications
E-mail: pr@pasts.lv; gundega.varpa@pasts.lv
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