After two years, FINMA has already partially revised its circular on video and online identification. The duties in respect of due diligence when onboarding new business relationships through digital channels have thereby been adjusted.
However, the circular was most likely also revised to stay abreast of rapidly evolving technological developments and in consideration of past experience. The structure and topics (video identification, online identification, beneficial ownership, involvement of third parties, technological neutrality) remain largely unchanged. Nevertheless, the following changes are relevant: