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Disseminate and communicate to customers the risks associated with transaction limits.


CONTROL ID
13686
CONTROL TYPE
Communicate
CLASSIFICATION
Preventive

SUPPORTING AND SUPPORTED CONTROLS



This Control directly supports the implied Control(s):
  • Provide customer security advice, as necessary., CC ID: 13674

There are no implementation support Controls.


SELECTED AUTHORITY DOCUMENTS COMPLIED WITH



  • AIs should implement 2FA to re-authenticate the customer's identity before effecting a high-risk funds transfer transaction (see subsection 4.2.2). Nevertheless, AIs also have the flexibility to offer a service where small-value funds transfer transactions to unregistered payees' accounts or unregis… (§ 6.1.1, Hong Kong Monetary Authority Supervisory Policy Manual TM-E-1 Risk Management of E-Banking, v.2)
  • As mentioned in subsection 4.1.4, AIs should implement 2FA to authenticate the customer's identity before effecting a high-risk funds transfer transaction. Nevertheless, AIs also have the flexibility to offer a service where small-value funds transfer transactions to unregistered payees are not rega… (§ 6.1.1, Hong Kong Monetary Authority Supervisory Policy Manual TM-E-1 Risk Management of E-Banking, V.3)