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SFC finalises amendments on AML guidelines to facilitate virtual onboarding

Asian Private Banker - Private banks shy away from fully-digitalised onboarding

The Securities and Futures Commission (SFC) is allowing firms the flexibility to adopt a range of alternative measures to verify customer identification other than relying on certified hard copies, in order to facilitate virtual onboarding. The announcement comes shortly after the Hong Kong Monetary Authority (HKMA) discussed its soon-to-be-launched Supervisory Policy Manual on anti-money laundering and counter-terrorist financing (AML/CTF), which…

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