Why is it essential to keep your personal data up to date?

Your bank may ask you to provide certain documents: proof of identity, proof of address, phone number, or official documents for associations and businesses. While this request may seem inconvenient at first, this information plays a key role in ensuring your security.

Up to date information: stronger protection

When your bank has accurate and current information, it knows exactly who it is dealing with.

This allows for:

• Better security for your transactions,

• Effective fraud prevention,

• Reduced risk of identity theft,

• A contribution to the stability of the financial system.

Updating your data means protecting your accounts, your assets, and your peace of mind.

Why respond promptly to the Bank’s request?

If you receive a request from your bank to update your documents, it is important to respond within the given timeframe. If we do not receive the required documents, the bank may be obliged to restrict or even block your account until the information is provided and validated.

A requirement for you - and for us

Protecting your data is not only a matter of security; it is also a legal requirement. In Luxembourg, CSSF Regulation 12 02 and CSSF Circular 17/650 define the obligations of financial institutions in the fight against money laundering and terrorist financing.

This includes:

• Properly identifying each client,

• Regularly verifying the information provided,

• Keeping all required supporting documents on record.

We must know you, understand the activity of your association or business, and keep your documents up to date. It is a shared responsibility.

Updating your personal data is not a formality: it is an essential security measure, a regulatory obligation, and a necessary condition for the proper functioning of your banking services. So if you receive a request to update your information via secured messaging: don’t wait.

Important: the update of your data can only be performed by you via your BILnet application. BIL will never ask you to provide your contact information, passwords, or security codes over the phone. We will not send you emails with links to click, nor will we send you SMS messages.