MOF postpones, revises photo policies

Acting on suggestions made by the Bankers Association of the ROC (銀行公會), the Ministry of Finance has agreed to postpone its plan to require local banks to take digital snapshots of new clients when opening new accounts.

"Due to hurried preparations, the plan, which aims to prevent the creation of fraudulent savings accounts, will be postponed till late March," Gary Tseng (曾國烈), director-general of the ministry's Bureau of Monetary Affairs, told the legislature on Wednesday.

According to Tseng, the bankers association said that many banks would have difficulties in meeting the Jan. 1 deadline for the new policy, since they need more time to install digital-camera equipments.

In addition to a three-month grace time, the ministry also slightly revised the plan by allowing banks to reinforce their installation of surveillance cameras at bank counters so that new clients are sure to be videotaped, Tseng said.

Local banks have expressed concern that the new digital-photo requirement is likely to upset some clients, who may refuse to cooperate, fearing that their privacy may be endangered.

The banks, therefore, proposed to replace digital snapshots with videotaped footage of headshots so that clients won't be disturbed.

After careful consideration, Tseng said that the ministry agreed to give the go-ahead to the alternative measure.