Regulatory Alerts2026-03-26
Added · Updated
Consumer Protection in the Use of Alternative Data
The Hong Kong Monetary Authority issued this circular on March 26, 2026, to establish consumer protection standards for authorized institutions utilizing alternative data. The document mandates that banks implement robust governance frameworks to ensure the fairness, accuracy, and security of alternative data usage in credit and other financial decisions. It requires institutions to maintain transparency with customers regarding data sources and to conduct regular risk assessments to mitigate potential biases or privacy violations.
Topics
consumer
privacy
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