Regulatory Alerts2019-11-05
Added · Updated
Consumer Protection in respect of Use of Big Data Analytics and Artificial Intelligence by Authorized Institutions
The Hong Kong Monetary Authority issued this circular to establish consumer protection standards for authorized institutions utilizing big data analytics and artificial intelligence. The document mandates that institutions implement robust governance frameworks to ensure the fairness, transparency, and accountability of their automated decision-making processes. It requires firms to maintain human oversight and provide clear explanations to consumers regarding the use of these technologies in service delivery.
CIR
Current
Issue Date:
05 Nov 2019
20191105-1-EN.pdf (241.8 KB)
Topic:
Banking Conduct & Enforcement - Consumer Protection
Fintech - Others
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Current
01 Nov 2019
High-level Principles on Artificial Intelligence
Directly related Document
CIR
Current
01 Nov 2019
High-level Principles on Artificial Intelligence
Version History
Superseded Document
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