Japan's Financial Services Agency requires financial institutions to stop using images of identity verification documents for personal identification
2026-10-09 18:50:21
According to CoinMeta, as reported by nada and news, the Japanese Financial Services Agency (FSA) requested on October 9th that financial institutions and others accelerate the cessation of using images of identification documents such as driver's licenses for identity verification, and instead switch to reading information from IC chips. This requirement also applies to the process of opening accounts on cryptocurrency exchanges. In accordance with the revised implementation rules of Japan's "Law on Prevention of the Transfer of Criminal Gains," the current method of uploading identification document images was originally scheduled to be phased out on April 1, 2027. However, recent incidents of unauthorized system access have led to the leakage of customer information, including images of identification documents. As a result, the FSA has instructed relevant institutions not to wait until the official implementation date to complete this transition. The new method allows for the reading of information from IC chips on smartphones, which is then combined with the applicant's facial image for identity verification.
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