Financial Action Task Force (FATF/OECD) Chapter B, Par. Customer Due Diligence and Record Keeping:

Recommendation 5a
Financial Institutions should be required to identify the customer and verify that customer's identity by using reliable, independent source documents*

* Generally accepted Source Documents are Passports etc. which are Valid, Authentic and Official


Recommendation 10
Financial institutions should keep records on the identification data obtained through the customer due diligence process (e.g. copies or records of offical documents like passports, identity cards etc.) for at least five years after the business relationship is ended.