Regulatory Alerts2026-03-26
Added · Updated
Consumer Protection in the Use of Alternative Data
The HKMA provides guiding principles for authorized institutions regarding consumer protection when using alternative data in banking operations such as credit risk assessment. These principles require institutions to establish robust governance, ensure transparency and explicit prior consent, maintain data quality and fairness, and implement strict privacy safeguards. The document mandates annual compliance audits, clear communication with customers about data usage, and adherence to existing supervisory policy modules on credit data and AI.
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Topics
consumer
privacy
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