Japan's FSA Tells Banks and Exchanges to Drop Photo-ID Checks Early
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Japan's FSA tells banks and exchanges to drop photo-ID checks early
Banks and crypto exchanges received a notice on Friday from Japan’s Financial Services Agency (FSA) to stop requiring photographed identity documents for customer verification. Today’s notice will move the Asian country to a new system of reading the chips embedded in ID cards. The request cut the timeline on a change previously set for April...
Leaked licenses and frontier AI push Japan to scrap image-based KYC early
Banks and crypto exchanges received a notice on Friday from Japan’s Financial Services Agency (FSA) to stop requiring photographed identity documents for customer verification. Today’s notice will move the Asian country to a new system of reading the chips embedded in ID cards. The request cut the...
On October 9th, the Financial Services Agency (FSA) requested financial institutions to promptly transition from the current method of identity verification, which involves sending images of driver's licenses and other identification documents, to a method that reads IC chip information. Recently, customer-facing... The post FSA requests early abolition of identity verification using driver's license images at cryptocurrency exchanges, etc. firs…
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