Regulatory Alerts2022-12-21
Online Identification Regulation (Online-IDV)
The Austrian Financial Market Authority (FMA) issued this regulation to mandate comprehensive security measures for video-based online customer identification, directly supporting anti-money laundering compliance. Obliged entities must deploy trained personnel to conduct verifications in secure settings, utilizing audio recordings, high-quality screenshots, and rigorous document authenticity checks while retaining ultimate liability for outsourced processors. The framework additionally authorizes compliant biometric identification methods and permits remote staff verification until December 2023, thereby standardizing digital identity procedures across financial markets.
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