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FC-1.12.12

Past version: Effective from 01 Oct 2017 to 31 Dec 2021
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Where no face-to-face contact takes place, conventional bank licensees must take additional measures in order to mitigate the potentially higher risk associated with such business. In particular, licensees must take measures:

(a) To ensure that the customer is the person they claim to be (this can be done through video conferencing); and
(b) To ensure that the address provided is genuinely the customer's.
Added: October 2017