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8. Can banks/insurance companies collect a copy of my ID card when I apply to be their customer?

Yes, banks and insurance companies may collect a copy of your ID card as proof that they have carried out the customer due diligence measures required under sections 2 and 3 of Schedule 2 to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. These requirements have been endorsed by the Privacy Commissioner. However, the word "copy" should be marked across the image of the copies of their customers' ID cards.