You can see the rules and regulations in other jurisdictions.
Through non-face-to-face transactions, financial service business operators had a variety of methods to verify their clients' identity until 2018. It was necessary to complete know-your-customer (KYC) procedures by mail in most cases, so the digital method was not sufficient to complete these procedures.1
AML laws and regulations were amended in Japan on 30 November 2018 to make customer identity verification methods more flexible through digital onboarding methods. New KYC procedures include: (1) transmission of a picture of identity confirmation documents alongside a picture of the customer; and (2) transmission of the information stored on an integrated circuit chip alongside a picture of the customer.1
Artificial intelligence in financial products
