CBRT Regulation on Biometric Identity Verification for Payment Institutions
The Central Bank of the Republic of Turkey has enacted a new communiqué allowing payment and electronic money institutions to use biometric data in remote identity verification processes.
With a new communiqué published by the Central Bank of the Republic of Turkey (CBRT), the use of biometric data in remote identity verification processes for payment and electronic money institutions has been officially enabled. The regulation, published in the Official Gazette, aims to update security standards in digital financial transactions.
Biometric Data Usage Begins
The new communiqué issued by the CBRT allows payment and electronic money institutions to use biometric data in identity verification processes conducted via remote communication tools. This step aims to align the customer verification methods of financial institutions with digitalization.
New Standards for Identity Document Verification
Within the scope of the regulation, strict tests have been introduced for criteria such as the authenticity, integrity, and potential tampering of documents used in remote identity verification processes. The process of examining the front and back of identity documents, along with visual checks of data such as photographs and signatures, will now be recorded continuously.
Rules for Foreign Nationals
Identity verification procedures for natural persons who are not Turkish citizens will be carried out within the framework of the principles determined by the Financial Crimes Investigation Board (MASAK). In this process, it has become mandatory to use passports that comply with the International Civil Aviation Organization's 9303 standard and feature near-field communication (NFC) capabilities.