What is identification and why is it necessary?

Client identification means the establishment of the personal identity of clients (in case of organizations, the organization and its representative). As the registered seat of Barion is in Hungary, it is obliged to perform the client identification according to the requirements of the Hungarian “Act on the Prevention and Combating of Money Laundering and Terrorist Financing” (Act LIII of 2017) and Decree No. 45/2018. (XII. 17.) of the Central Bank of Hungary. According to the Anti Money Laundering Act and the Decree of the Central Bank of Hungary referred to, there are multiple levels of client identification, each having its own different limits.

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