OVDs for CDD of Natural Persons under IFSCA Guidelines 2022
The International Financial Services Centres Authority (IFSCA) has issued a detailed guideline, namely, the IFSCA (AML, CFT, and KYC) Guidelines, 2022, for the process for Customer Due Diligence (Customer Due Diligence) to be followed to identify and verify their customer’s identity against a list of Officially Valid Documents (OVDs). This infographic lists down the OVDs for CDD of Natural Persons under IFSCA Guidelines, 2022, and the information that can be collected from the OVDs.
Officially Valid Documents (OVDs) for Customer Due Diligence (CDD)
The OVDs required for CDD are different for Indian and Foreign Nationals. Here’s how:
Officially Valid Documents (OVDs) for Identification and Verification of Indian Nationals
In the case of a natural person, the OVDs required for identifying the customer and verifying their identity for Indian Nationals are:
- Passport
- Driving License
- Proof of Possession of Aadhar Number
- Voter Identity Card Issued by ECI
- Job Card Issued by NREGA
- Letter Issued by UIDAI or NPR
Officially Valid Documents (OVDs) for Identification and Verification of Foreign Nationals
According to the guidelines, the OVDs for identifying and verifying Foreign Nationals are:
- National Identity Card
- Voter Identity Card
Information to be Obtained from Officially Valid Documents (OVD)
The OVDs must capture the following for the process of CDD:
- Name
- Unique Identification Number
- Date of Birth
- Residential Address
- Nationality
- Photograph
The regulated entities must ensure that the identity documents are valid and correct.
GCC’s Key Takeaways on OVDs for CDD of Natural Persons under IFSCA Guidelines, 2022
This infographic helps regulated entities under IFSCA know about the OVDs for Customer Due Diligence under IFSCA (AML, CTF, and KYC) Guidelines 2022 with insights on the information that can be extracted from the documents.
