Regulatory Alerts2004-12-22
Added · Updated
Safeguarding customer assets and information
The Hong Kong Monetary Authority issued this circular to address operational and security risks following the mistaken destruction of safe deposit boxes. It requires authorized institutions to implement robust supervisory oversight, detailed record-keeping, and independent verification for all customer asset handling operations. Additionally, banks must enforce strict data security protocols, including device encryption, access controls, and regular internal audits, to protect confidential customer information.
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Topics
infosec
safeguarding
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