The Bangko Sentral ng Pilipinas has allowed digital identification of bank clients and the verification of this under the rules of CDD, which requires banks to know their customers. | RonWDomingoINQ /PDI
The guidelines recognize the use of e-KYC through the digital ID system and provide the minimum requirements for BSP-Supervised Financial Institutions or BSFIs in the conduct of e-KYC.
Further, the amended rules highlight that the Philippine Identification System -enabled e-KYC, which the Philippine Statistics Authority is expected to launch, is an acceptable system for e-KYC under the PhilSys Act and its revised implementing rules and regulations.
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