Regulatory Alerts2026-09-03
Added · Updated
Remote on-boarding of individual customers
The Hong Kong Monetary Authority (HKMA) updated its regulatory expectations for remote customer on-boarding, superseding previous circulars from 2019 and 2021 for Authorized Institutions (AIs) and Stored Value Facility (SVF) licensees. AIs and SVF licensees must continually update and recalibrate their remote on-boarding solutions to comply with core principles of identity authentication and identity matching, utilizing technology to ensure document reliability and incontrovertibly link customers to identities. They are also expected to adopt a risk-based approach in product and service design, proportionate to the customer’s assessed money laundering and terrorist financing (ML/TF) risk profile. Furthermore, AIs and SVF licensees must conduct a comprehensive review of their remote on-boarding solutions and oversight, incorporating the latest intelligence on fraud and scam tactics shared by the HKMA and the Hong Kong Police Force.
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