Regulatory Alerts2019-06-14
Added · Updated
Observations of Mystery Shopping Programme in respect of Account Opening by Authorized Institutions in Hong Kong
The Hong Kong Monetary Authority issued this circular to present findings from a mystery shopping programme assessing account opening practices by authorized institutions. The report specifically evaluates the processes applied to small and medium-sized enterprise customers to identify compliance gaps and operational inefficiencies. These observations aim to guide institutions in enhancing their customer onboarding procedures and adherence to regulatory standards.