Regulatory Alerts2022-04-04
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Sound practices for customer data protection
The Hong Kong Monetary Authority issues this note to outline sound practices for customer data protection based on its 2022 thematic examinations of Authorized Institutions. The guidance requires institutions to establish robust data governance frameworks, maintain comprehensive customer data inventories, and implement strict controls over data transmission, storage, and physical security. Advanced practices highlighted include centralized inventory systems, data loss prevention policies, and dynamic watermarking to mitigate risks of unauthorized access and data breaches.
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Topics
privacy
infosec
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