FATF Working on Globally Implementing Digital ID Verification

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The global Financial Action Task Force (FATF) have released new guidance in a printed draft steerage regarding digital biometric identification systems will be used for risk-based client due-diligence.

It’s seeking opinions from leading banks, virtual-asset service suppliers and different regulated entities, similarly as public authorities, in preparation for a revision of the steerage at its Feb 2020 conferences. Consultation closes at the end of this month on the 29th of November 2019.