The Hong Kong Monetary Authority (HKMA) has released the conclusions of a public consultation regarding a proposal for information sharing among Authorized Institutions (AIs) to enhance crime prevention and detection. Initiated on January 23, 2024, the consultation gathered 18 submissions from various stakeholders, with general support for the proposal aimed at combating fraud, money laundering, and terrorist financing. The HKMA noted the importance of personal data privacy, as highlighted by the Office of the Privacy Commissioner. Moving forward, the HKMA will incorporate feedback into necessary legislative amendments while continuing to engage with stakeholders on practical implementation issues.
Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/09/20240930-4/
