If the bank or other obliged entity does not receive from the customer the due diligence information required by the Money Laundering Act and information on the origin of funds, the bank or obliged entity may not establish a customer relationship, execute transactions or maintain a business relationship.
The bank, moreover, may not execute a payment transaction via a payment account if it does not receive sufficient information and clarifications from the customer.
Ultimately, the obliged entity may have to restrict the customer's use of services or terminate the customer relationship if the information is not received, because in that case the obliged entity is not permitted to execute transactions or maintain the customer relationship by law.
Customer due diligence in the Money Laundering Act (in Finnish)