The Hong Kong Monetary Authority requires banks to complete the investigation of fake document account opening traced back to January 2023 within three months Odaily Planet Daily News: The Hong Kong Monetary Authority has requested banks to initiate account opening verification for investment accounts opened by mainland users, with a focus on identifying and shutting down fake document account openings and clearing zombie accounts. The scope of investigation for fake document account opening can be traced back to accounts opened since January 2023. The investigation will be completed within 3 months, and problematic accounts will be closed within 6 months after completion. The investigation and cleanup of "zombie accounts" will also be carried out in the next three months. Banks must identify cases of investment accounts held by mainland investors with zero balance and no trading activities within the year prior to May 22, 2026, and reconfirm KYC (Know Your Customer) information with them. Customers are required to make a series of statements in accordance with the new regulations for opening investment accounts. If the relevant procedures cannot be implemented, the account will be closed within 6 months. (Caixin Network)