Summary
This document is a guide detailing the Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations in Armenia, particularly focusing on identity verification requirements. It outlines the legal framework established by the Republic of Armenia’s Law on Combating Money Laundering and Terrorism Financing, which was introduced in 2008. The guide specifies due diligence requirements, including the necessary identity verification attributes for individuals, such as forename, surname, identification document data, date and place of birth, and address. It also describes compliant Customer Due Diligence (CDD) methods, including the verification of identity through independent sourced documents and real-time audio-video transmission. Additionally, it addresses the requirements for politically exposed persons and enhanced due diligence measures. The document emphasizes the importance of record retention for a minimum of five years as part of AML and KYC obligations. Overall, it serves as a comprehensive reference for understanding the regulatory landscape surrounding identity verification in Armenia.
