Time of identity verification

In derogation from section 11(1) of the Anti-Money Laundering Act, verification of the identity of the contracting party, of a person acting for the contracting party, and of the beneficial owner may also be completed without delay after the opening of an account or a securities account. In this case it must be ensured that no funds can be withdrawn from the account or the securities account before verification of identity is completed. In the event of repayment of funds received, they may be paid out only to the person who made the payment.