The world has changed. The increase in crime and terrorism has forced many countries to join together in an effort to control the scourge. Thanks to new legislation and international cooperation, the authorities are now hitting criminals where it hurts - in the wallet. Criminals need cash to thrive. They turn the 'dirty' cash they make from fraud, drug trafficking, smuggling and robbery into 'clean' money by using false identities or using the names of innocent people like you. It's called 'money laundering', and not only is it costing countries billions a year, it is also providing the resources for international terrorism to grow. To stem the flow the government has now put into operation the Financial Intelligence Centre Act 38 of 2001.
In line with the new legislation all banks are required to introduce more stringent processes for the opening of new accounts. This means that, for us to comply with the law, we require you to provide us with additional proof of identity when opening a new bank account. This law also requires that your personal information should be updated regularly.
These procedures apply to, and must be implemented by, all banks.
Please select from the list below the entity that is applicable to you.
Nedbank Ltd Reg No 1951/000009/06. We subscribe to the Code of Banking Practice of The Banking Association South Africa and, for unresolved disputes, support resolution through the Ombudsman for Banking Services. We are an authorised financial services provider. We are a registered credit provider in terms of the National Credit Act (NCR Reg No NCRCP16).
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