The bank promulgated the Circular in December 2015 on ‘Improving Individual Bank Account Services and Strengthening Account Management’. The directive stated that banks must use government databases, the bank’s own databases, commercial databases and other banks’ databases to confirm a new customer’s identity.
The New Individual Bank Account Circular reiterates that banks must always check the ID information of the account opening applicant, the validity of the ID document, the consistency of the account opening applicant with the ID and the intention of the account opening applicant, and shall under no circumstances open bank accounts with anonymous names or disguised names.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now