February 08, 2018 BY Valentina Kirilova
MAS encourages financial institutions to use technology to on-board customers more efficiently
The Monetary Authority of Singapore (MAS) has issued new guidance to financial institutions (FIs) on the use of innovative technology solutions to facilitate safe, non-face-to-face customer on-boarding. MAS requires FIs operating in Singapore to implement robust controls when onboarding new customers, e.g. when opening a bank account, to detect and deter money laundering or terrorism…
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