Regulatory Alerts2024-06-28
Added · Updated
Pilots on Cross-boundary Credit Referencing
The Hong Kong Monetary Authority issued this circular to establish the regulatory framework for cross-boundary credit referencing pilots between Hong Kong and the Mainland. The pilots facilitate the secure transfer of commercial credit data via credit reference agencies to support banking activities in the Greater Bay Area. Authorized institutions must obtain customer consent, ensure data security, and comply with the Supervisory Policy Manual module IC-7 and the Personal Data (Privacy) Ordinance.
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