Regulatory Alerts2023-03-23
Emphasis on the Prohibition of Initiating Any Remote Relationship Without Using Biometric Authentication
The Saudi Central Bank (SAMA) issued Circular No. 44037856 mandating that financial institutions must utilize biometric authentication when initiating or creating remote customer relationships across any channel. Institutions are required to complete integration with approved service providers by January 31, 2023, ensuring a high level of security assurance. SAMA will enforce compliance through regulatory measures for any entities that fail to implement this authentication requirement.
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