Carlo Lombardini
lawyer at the Geneva bar, professor at the University of Lausanne
Published on December 22, 2024 at 9:26 p.m.
5 mins. reading
A bank is obliged to identify the beneficial owner of the funds entrusted to it if an account is opened in the name of a natural person or a domiciliary company. The beneficial owner must be a natural person.
The identity of the beneficial owner must be indicated on form A by the account holder. Identification does not only take place when opening an account but may need to be repeated as new funds enter an account. It is up to the bank concerned to decide according to its regulations when to request the signature of a new Form A.
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