# VSB 20 Art. 10 — Identification when a business relationship is established by correspondence - **Rubric (DE):** Identifizierung bei Aufnahme der Geschäftsbeziehung auf dem Korrespondenzweg - **Rubric (EN):** Identification when a business relationship is established by correspondence - **Chapter:** 2. Kapitel — Identifizierung des Vertragspartners (2. Abschnitt: Natürliche Personen) - **Scope:** Banks & securities firms (incorporated via [[GwV-FINMA Art. 35 - Identification, controlling person and beneficial|GwV-FINMA Art. 35]]) - **Status:** In force (since 1 January 2020) ## Description Abs. 1: where the business relationship is established by correspondence or via the internet, the bank identifies the contracting party by having a certified-authentic copy (*echtheitsbestätigte Kopie*) of an identification document within the meaning of Art. 9 sent to it, and by verifying the contracting party's residential address by postal delivery or in another equivalent way. Abs. 2: online identification (*Online-Identifizierung*) in accordance with the FINMA rules in force from time to time is treated as equivalent to identification when a business relationship is established by correspondence. ## Context & interpretation The SBA commentary states that, according to the practice of the VSB supervisory commission (*Aufsichtskommission VSB*), it is enough for a correspondence opening that no personal meeting between the bank and the contracting party takes place. It states that delivery by ordinary mail (A- or B-Post) suffices to confirm the residential address, that a "lettre signature" is not required, and that an official confirmation of residence counts as equivalent to postal delivery. Obtaining the authenticity confirmation from a third party is not a delegation of identification, so no written agreement with that person is needed. ## FATF - [[FATF R.10 - Customer due diligence|FATF R.10]] — identification and verification of the customer's identity where the relationship is established without a personal meeting. ## Swiss counterparts - [[GwV-FINMA Art. 45 - Natural persons and sole proprietors|GwV-FINMA Art. 45]] — Abs. 2 parallel: where the relationship is established without a personal appearance, the residential address is additionally checked by postal delivery or equivalently and a certified copy of the document is put on file; the trigger there is "without personal appearance", in VSB Art. 10 "by correspondence or via the internet". - [[GwV-FINMA Art. 48 - Form and handling of documents|GwV-FINMA Art. 48]] — Abs. 1: identification documents are presented in the original or as a certified copy. - [[GwV-FINMA Art. 50 - Waiver of certification and missing|GwV-FINMA Art. 50]] — Abs. 1: the intermediary may waive the authenticity certification if other documented measures allow it to verify identity and address; Art. 10 itself contains no such waiver. - [[GwG Art. 3 - Verification of the identity of|GwG Art. 3]] — statutory basis: identification of the contracting party on the basis of a probative document (Abs. 1). - [[VSB 20 Art. 9 - Identification on face-to-face meeting|VSB 20 Art. 9]] — defines the identification document whose certified copy is required. - [[VSB 20 Art. 11 - Issuers of authenticity certifications|VSB 20 Art. 11]] — who may confirm the authenticity of the copy. - [[VSB 20 Art. 7 - Information to be documented|VSB 20 Art. 7]] — the details the commentary says are also to be recorded in correspondence identification. ## Part of - [[VSB 20]] ## Further AMLR connections - [[AMLR Art. 22 - ID - verify customer + BO|AMLR Art. 22]] — VSB Art. 10 sets remote identification by certified ID copy and address check, or FINMA-compliant online identification; AMLR Art. 22(6) does not distinguish remote from in-person verification. *(related)* ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 10 - SBVg Kommentar zur VSB 20 (2020), Art. 10