As a provider of critical infrastructure services, Eltel is required to know it’s customers. The requirement to know our customers and the related questions we ask are based on legislation e.g. anti-money laundering legislation and to prevent financing of terrorism and e.g. to ensure sanctions compliance. We request customer information when establishing a new customer relationship and regularly during the course of the customer relationship, on average about every 3 years. In case significant changes occur to ownership structure of our customer, Eltel maintains the right to request updated information from our customer. Up-to-date customer information is a prerequisite for maintaining a well-functioning customer relationship.
For our customers, we must identify, among other things, the representatives, owners, ownership structure, and actual beneficiaries* of the company or organization. In addition, we must have sufficient information about our customer’s business operations and financial situation. Our customer personal data can be used to determine whether the customer is subject to international sanctions.
Obligation to know the customer applies to both new and existing customers. We have a legal obligation to keep our customers’ information up to date. We ask for information regularly throughout the customer relationship.
Whenever significant changes occur in our customers organization related to the details described above, our customer is obliged to provide the up-to-date information to Eltel. If the customer information is incorrect or cannot be ascertained, the business-relationship may not be able to be continued.
*A beneficial owner is defined as a natural person who holds more than twenty-five per cent (25%) ownership, indirect ownership, or voting rights in the customer company. The beneficiary can only be a natural person, meaning an estate, company, organization, or public entity cannot be declared as a company’s beneficial owner. A customer company may have one or more beneficial owners. There are also situations where there may be no beneficiaries; in such cases, the board, the CEO, or other persons in similar positions are usually considered the beneficiaries. In situations where no one in the company exercises control or owns more than twenty-five per cent (25%) of the company, the members of the board, the CEO, or other persons in similar positions are considered the beneficial owners.
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This is Eltel
Eltel is the leading infrastructure and service provider for critical communication and power networks – infranets.
Code of Conduct
Eltel sets high ethical standards in performing its business by operating in an economically, environmentally and socially responsible manner.
Policies and guidelines
Everyone at Eltel is expected to ensure that all business decisions and actions are legally and ethically complying with Eltel’s Code of Conduct.
Eltel whistleblowing system
A corporate culture of transparency and integrity is fundamental to building successful organisations.