Regulatory Alerts2024-06-28
Added · Updated
Standard Contract for Cross-boundary Flow of Personal Information involving Transfer of Credit Data through Credit Reference Agencies
The Hong Kong Monetary Authority issued this standard contract to regulate the cross-border transfer of personal credit data via credit reference agencies. It establishes mandatory contractual terms for authorized institutions to ensure compliance with data protection standards when sharing consumer and commercial credit information. This document serves as a direct implementation mechanism for the supervisory policies outlined in SPM modules IC-6 and IC-7 regarding the sharing and use of credit data.
Topics
credit
privacy
Share