Regulatory Alerts2017-12-20
Added · Updated
Mystery Shopping Programme in respect of Account Opening by Authorized Institutions in Hong Kong
The Hong Kong Monetary Authority (HKMA) has instituted a Mystery Shopping Programme to assess how Authorized Institutions handle account opening for small and medium-sized enterprises and ethnic minority customers. An engaged service provider utilizes trained mystery shoppers who audio-record interactions to evaluate compliance with HKMA guidance and relevant banking charters. The HKMA will use these findings to determine necessary follow-up actions and may share industry-wide issues with the sector.
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