Exposure Draft on Electronic Know-Your-Customer (e-KYC)Release Date: 16 Dec 2019
16 December 2019
This exposure draft sets out the proposed requirements and guidance in implementing e-KYC for the on-boarding of individuals to the financial sector. The requirements outlined in this proposal are aimed at -
- Enabling safe and secure application of e-KYC technology in the financial sector;
- Facilitating the Bank’s continued ability to carry out effective supervisory oversight over financial institutions; and
- Ensuring effective Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) control measures.
- Licensed banks
- Licensed investment banks
- Licensed Islamic banks
- Licensed life insurers
- Licensed family takaful operators
- Prescribed development financial institutions
- Licensed money-changing operators
- Licensed remittance service providers
- Approved non-bank issuers of designated payment instruments and designated Islamic payment instruments.
Section in Charge
Digital Finance Unit
Financial Development and Innovation Department
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