#Newspaper
Bank of China client information "extradited to China", data on the opening of accounts and loans sent to Guangxi subsidiary for processing approved by Hong Kong Monetary Authority
(12 Jun, updated 0:30, 13 Junto add response from Office of the Privacy Commissioner for Personal Data)
Stand News has learned that the Bank of China (Hong Kong) [BOCHK] intends to allocate a portion of its data processing and auditing work to its wholly-owned subsidiary in Nanning, Guangxi. This has been approved by the Hong Kong Monetary Authority [HKMA]. However, whether its clients are aware that documents containing their personal information, including assets and loans, are to be "extradited to China" remains questionable. The BOCHK responded that they strictly adhered to the relevant laws and regulations in Hong Kong to ensure the proper handling of client information. The Office of the Privacy Commissioner for Personal Data [PCPD] stated that organisations that transfer information should inform their clients.
//This implies the "extradition" of personal and asset information from much of its clientele in Hong Kong.
//The BOCHK did not answer Stand New's inquiry on whether it will notify its clients of the new arrangements.
//the BOCHK is not outsourcing to a third-party business in this case, but to its wholly-owned subsidiary.
//process and store personal client information both within and outside of Hong Kong's borders. At the same time, the bank may transfer client information to regions outside of Hong Kong's jurisdiction and conduct any matching procedures*.
Full translation:
https://telegra.ph/Bank-of-China-client-information-extradited-to-China-data-on-the-opening-of-accounts-and-loans-sent-to-Guangxi-subsidiary-for-pr-07-05
Source: Stand News
#Extradition #BOCHK #ClientInformation #Privacy #Finance
Bank of China client information "extradited to China", data on the opening of accounts and loans sent to Guangxi subsidiary for processing approved by Hong Kong Monetary Authority
(12 Jun, updated 0:30, 13 Junto add response from Office of the Privacy Commissioner for Personal Data)
Stand News has learned that the Bank of China (Hong Kong) [BOCHK] intends to allocate a portion of its data processing and auditing work to its wholly-owned subsidiary in Nanning, Guangxi. This has been approved by the Hong Kong Monetary Authority [HKMA]. However, whether its clients are aware that documents containing their personal information, including assets and loans, are to be "extradited to China" remains questionable. The BOCHK responded that they strictly adhered to the relevant laws and regulations in Hong Kong to ensure the proper handling of client information. The Office of the Privacy Commissioner for Personal Data [PCPD] stated that organisations that transfer information should inform their clients.
//This implies the "extradition" of personal and asset information from much of its clientele in Hong Kong.
//The BOCHK did not answer Stand New's inquiry on whether it will notify its clients of the new arrangements.
//the BOCHK is not outsourcing to a third-party business in this case, but to its wholly-owned subsidiary.
//process and store personal client information both within and outside of Hong Kong's borders. At the same time, the bank may transfer client information to regions outside of Hong Kong's jurisdiction and conduct any matching procedures*.
Full translation:
https://telegra.ph/Bank-of-China-client-information-extradited-to-China-data-on-the-opening-of-accounts-and-loans-sent-to-Guangxi-subsidiary-for-pr-07-05
Source: Stand News
#Extradition #BOCHK #ClientInformation #Privacy #Finance
Telegraph
Bank of China client information "extradited to China", data on the opening of accounts and loans sent to Guangxi subsidiary for…
(12 Jun, updated 0:30, 13 Junto add response from Office of the Privacy Commissioner for Personal Data) Stand News has learned that the Bank of China (Hong Kong) [BOCHK] intends to allocate a portion of its data processing and auditing work to its wholly…
#FailedState #TransferofInterest
HK Government Skips Tendering and Awards Bank of China as Sole Partner to Payout $10,000 cash Allowance to Low-income New Immigrants
The Community Care Fund (#CCF) announced on September 21, 2020 the launch of the One-off Allowance for New Immigrants from Low-income Families Programme, with an aim to help them "adapt to community and to help ease the load of the immediate financial pressure".
Announcing the details at a media briefing, the Chairperson of the CCF Task Force, Dr Law Chi-kwong, said that the CCF has set aside around HK$2,131.04 million to kickstart the programme, and an estimation of 203,000 new immigrants will benefit from it.
Separately, Law stated that Bank of China Hong Kong (#BOCHK) was appointed as the sole agent bank of the project to disburse cash allowance within 8 weeks. He claimed that skipping the formal tendering process was to "shorten the processing time".
Source: InMedia; RTHK #Sept21
https://bit.ly/3kBRSDG
#NewImmigrants #NoTender
HK Government Skips Tendering and Awards Bank of China as Sole Partner to Payout $10,000 cash Allowance to Low-income New Immigrants
The Community Care Fund (#CCF) announced on September 21, 2020 the launch of the One-off Allowance for New Immigrants from Low-income Families Programme, with an aim to help them "adapt to community and to help ease the load of the immediate financial pressure".
Announcing the details at a media briefing, the Chairperson of the CCF Task Force, Dr Law Chi-kwong, said that the CCF has set aside around HK$2,131.04 million to kickstart the programme, and an estimation of 203,000 new immigrants will benefit from it.
Separately, Law stated that Bank of China Hong Kong (#BOCHK) was appointed as the sole agent bank of the project to disburse cash allowance within 8 weeks. He claimed that skipping the formal tendering process was to "shorten the processing time".
Source: InMedia; RTHK #Sept21
https://bit.ly/3kBRSDG
#NewImmigrants #NoTender