Use of iAM Smart as the recognised digital identification system for customer due diligence purpose

Background

With effect from 1 June 2023, the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”) allows accounting professionals¹ to use a recognised digital identification system that is recognised by the Accounting and Financial Reporting Council (“AFRC”) as a reliable and independent source of documents, data or information for conducting customer due diligence when they perform specified services² such as trust or company services.

In this connection, the AFRC recognises iAM Smart of Hong Kong as a recognised digital identification system for the above purpose. iAM Smart is developed and operated by the Hong Kong SAR Government and is now open to accounting professionals for adoption in their online businesses.

Application procedures

Certified public accountants or practice units (i.e. certified public accountants (practising), CPA firms or corporate practices) who would like to adopt iAM Smart in their online services may apply to join the Sandbox Programme of the Office of the Government Chief Information Office (OGCIO) and Cyberport for functional testing and other procedures.

The application must be made via the AFRC by submitting the following information by email to [email protected]:

Type of applicant

Required information

Practice units registered with the AFRC

Name of the practice unit
Registration number of the practice unit
Name of contact person
Contact phone number
Contact email address
A statement that the practice unit consents to the AFRC to pass the above information to the Sandbox Programme Support Team of the OGCIO and Cyberport

The application must be submitted using the email address registered with the AFRC.

Certified public accountants registered with the Hong Kong Institute of Certified Public Accountants (“HKICPA”)

Name
HKICPA membership number
Name of contact person
Contact phone number
Contact email address
A statement that the certified public accountant consents to the AFRC to pass the above information to the Sandbox Programme Support Team of the OGCIO and Cyberport
Written certification of the HKICPA membership status³ issued by the HKICPA within 1 month before the application submission

Upon verifying the applicant’s identity as a practice unit or a certified public accountant, the AFRC will pass the application to the Sandbox Programme Support Team of the OGCIO and Cyberport for further processing. The Sandbox Programme Support Team will work with the applicant directly on the remaining procedures.

For details of “iAM Smart” and Sandbox Programme, please visit http://www.iamsmart.gov.hk and https://iamsmart.cyberport.hk respectively.

Enquiries

If you have any questions regarding the above, please contact us by email to [email protected].

¹Under the AMLO, “accounting professional” means a certified public accountant registered with the HKICPA or a practice unit, i.e. certified public accountant (practising), CPA firm or corporate practice, registered with the AFRC

²Please refer to paragraphs 600.2.1 and 600.2.2 in Part F – Guidelines on Anti-Money Laundering and Counter-Terrorist Financing for Professional Accountants of the Code of Ethics for Professional Accountants issued by the HKICPA for a list of the specified services whereby specific customer due diligence measures must be adopted.

³Please refer to Q20 of HKICPA’s Frequently Asked Questions for the procedures on obtaining the written certification of HKICPA membership status.