HK bank address move: handy for corporates or a free kick for crooks?
The HKMA has moved to simplify procedures for opening a bank account, scrapping the need for address verification. But will it compromise the city’s fight against money laundering?
The days of private and corporate customers having to walk into a bank branch with a utility bill in hand to open an account will soon be over in Hong Kong, which has moved to relax address verification requirements.
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