Bank Of Georgia Kyc Form Updated Jun 2026
Enhanced scrutiny regarding the source of customer wealth.
The Bank of Georgia is updating its KYC form to:
Visual proof of identification (high-resolution passport scans). 2. Financial Metrics and Expected Activity Anticipated monthly and annual account turnover. bank of georgia kyc form updated
This draft is designed to meet modern compliance standards (including GDPR and local Georgian financial regulations) and includes sections for digital onboarding. You should have your legal/compliance team review this to ensure it aligns with the specific internal policies of the bank and the National Bank of Georgia’s current decrees.
Input your active contact information, including a phone number and email address. Step 2: Employment and Business Activity State your current employment status clearly. Enhanced scrutiny regarding the source of customer wealth
Once you submit your updated KYC form, the bank’s compliance department will review the submitted data. This process usually takes between . During this period, the compliance team may reach out to you via your registered email or phone number to request additional clarifications. To ensure the fastest possible processing time:
You can complete the updated KYC process through digital channels or in person. Option 1: Via mBank Mobile Application Log into your Bank of Georgia mobile app. Input your active contact information, including a phone
KYC is a critical process that financial institutions use to verify the identities of their customers. The primary goal of KYC is to prevent financial crimes, such as money laundering, terrorist financing, and identity theft. By gathering and verifying customer information, financial institutions can assess the risk associated with each customer and take necessary measures to mitigate that risk. KYC is also essential for complying with regulatory requirements, such as the Financial Action Task Force (FATF) recommendations and the European Union's Anti-Money Laundering (AML) directives.
: Precise estimates of monthly and annual account turnovers.
The revised form now demands a detailed description of your business activities, even for personal accounts if you intend to receive regular international payments. This section asks for a list of counterparties, the countries you will transact with, and an estimate of your annual turnover. For corporate clients, the beneficial-owner register confirmation must match the bank’s KYC filings exactly, and nominee directors or shareholders must be fully disclosed.
The bank will periodically request that you update your information (typically every 1 to 3 years, depending on your risk profile).