Taiwan issues new identity verification rules for financial industry

Taiwan has issued fresh guidelines for digital identity verification that should make it easier for financial institutions to verify customer identities and reduce risk.

Taiwan’s Financial Supervisory Commission (FSC) guidelines instruct companies to self-assess appropriate identity authentication methods according to risk and apply to regulators for trial implementation.

The new guidelines represent a departure from previous security control regulations which imposed strict rules on adopting new technologies for digital identity verification, trade publication Regulation Asia reports. In the past, …

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