HKMA Expects Banks to Refrain From Financial Exclusion
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Hong Kong Monetary Authority recently noticed some banks may have applied stringent customer due-diligence measures that are disproportionate to the likely risk levels of customers, it says in circular on website.
Alert: HALISTER1- Cases have resulted in many unsuccessful account opening applications and/or unpleasant customer experiences
- HKMA to work with banks on identifying money laundering and terrorist financing risks
- HKMA to work with banks on implementing anti-money laundering and counter-terrorist financing requirements
Source: BFW (Bloomberg First Word)
To de-activate this alert, click here
UUID: 7947283