All posts tagged "identity verification"
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241AML / KYCAML Audit Ordered by AUSTRAC Finds Afterpay ‘Low Risk’
Following AUSTRAC’s order for Afterpay to review its AML/CTF compliance in June on suspicious of breaches, an external order has found the breaches only occurred due to the poor legal advice.
November 27, 2019 -
243AML / KYCSEBI Allows Intermediaries, Funds to Use Aadhaar for e-KYC
Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.
November 8, 2019 -
467AML / KYCBangladesh to Launch e-KYC for Bank Account Opening in January
Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.
October 31, 2019 -
327AML / KYCBOT Plan to Allow Biometric e-KYC Delayed in Testing
The BOT had planned to allow the use of biometric identity verification for account opening by Q3 this year, but testing in the sandbox has not yet been completed.
October 9, 2019 -
522AML / KYCMalaysia to Introduce e-KYC for Money Services Businesses
BNM has set out the requirements money changers must observe in non-face-to-face customer onboarding, to ensure effective and robust AML/CFT controls.
August 14, 2019 -
759AML / KYCSFC Enables Technology Approach for Overseas Client Onboarding
From 5 July, intermediaries can access embedded data in client identity documents for onboarding. Captured biometric data such as a facial image can be used for identity verification.
July 1, 2019 -
1.0KAML / KYCBank of Ayudhya Uses Facial Recognition in Account Opening
Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.
March 12, 2019 -
922AML / KYCHKMA’s Regulatory Expectations of Remote Customer On-boarding
Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.
February 5, 2019 -
802ChinaChina’s Rules for Blockchain to Take Effect in February
Companies will be required to verify user data based on national IDs and phone numbers, effectively removing the anonymity of blockchainin the country.
January 15, 2019 -
470Asia-Pacific
Thailand to Broadly Revamp Regulations for Financial Institutions
New regulations will make it easier for financial institutions to lend to SMEs and adopt new technologies, while also reducing burdensome approval processes.
November 23, 2018
