HKMA proposes easing data-sharing rules between banks
Hong Kong authorities cite need to tackle digital fraud and money laundering more effectively
The Hong Kong Monetary Authority (HKMA) is seeking views on a proposal to allow banks and deposit-taking firms to share customer information among themselves, and thereby improve the detection of financial crime.
The proposed changes would involve granting legal protection to eligible institutions that shared relevant customer data as part of the efforts to tackle fraud and money laundering in the territory.
In a public consultation paper published on January 23, the territory’s de facto central
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