- documents specified in § 21, § 22 and § 46 of the AML Act (which includes, but is not limited to documentation relating to proof of residence, date of birth, personal identification code), information registered in accordance with § 46 and the documents serving as the basis for identification and verification of persons, and the establishment of a business relationship for no less than five (5) years after the termination of the business relationship;
- during the period specified in subsection 1 of § 47, SwissBorg Solutions OÜ must also retain the entire correspondence relating to the performance of its duties and obligations arising from the AML Act and all the data and documents gathered in the course of monitoring the business relationship or occasional transactions as well as data on suspicious or unusual transactions or circumstances which were not reported to the Financial Intelligence Unit.
- SwissBorg Solutions OÜ must also retain the documents prepared with regard to a transaction on any data medium and the documents and data serving as the basis for the notification obligations specified in § 49 of the AML Act for no less than five years after making the transaction or performing the duty to report.
- SwissBorg Solutions OÜ must retain the documents and data specified in subsections 1, 2 and 3 of § 47 in a manner that allows for exhaustively and without delay replying to the enquiries of the Financial Intelligence Unit or, in accordance with legislation, those of other supervisory authorities, investigative bodies or courts, inter alia, regarding whether SwissBorg has or has had in the preceding five (5) years a business relationship with the given person and what is or was the nature of the relationship.
- Lastly, SwissBorg Solutions OÜ deletes the data retained on the basis of § 47 after the expiry of the time limits specified in subsections 1–6 of § 47, unless the legislation regulating the relevant field establishes a different procedure. On the basis of a compliance notice issued by the competent supervisory authority, data of importance for prevention, detection or investigation of money laundering or terrorist financing may be retained for a longer period, but not for more than five (5) years after the expiry of the first time limit.
Thus, upon account closure, your personal data is retained in SwissBorg Solutions OÜ’s database for the period mentioned above, but this data is not processed.