In accordance with the Danish AML Act, the Saxo Group shall as a minimum requirement store clients’ personal data for five years after the client relationship has been terminated and the client account is without funds.
The Saxo Group is required to keep the following information:
All information obtained in connection with KYC procedures, including the identity and verification details obtained and copies of identity details presented. For example, a copy of passport, ID card, CPR number, an audit trail to prove that verification of each client’s identity details have been verified, approval of business relationships with PEPs etc.
Documentation and records of transactions carried out as part of a business relationship.
Documents and registrations in connection with Saxo’s duty to investigate and record suspicious activities and transactions. This requirement means that Saxo Group must at least keep records of transactions and activities, including the results of investigations and the basis for the results. It is not sufficient to state that an investigation has been conducted. The record must contain details of how and why an investigation was conducted and its conclusion.
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