Hong Kong bolsters banking security with new information-sharing Bill

The Swedish Police Authority set up a financial intelligence centre yesterday in cooperation with the Swedish Environmental Crime Agency, the Swedish Tax Agency and the financial sector. The aim is to make it more difficult for criminals to exploit societal structures and legal systems, an economy estimated to be worth SEK 100-150 billion annually. “In this work, the authorities and banks will cooperate and exchange operational information betwe…

Latest Banking Bill to Enhance Secure Information Sharing Between Authorised Institutions - Fintech Hong Kong

The Government published the Banking (Amendment) Bill 2025 in the Gazette on 28 March 2025. The Bill aims to improve the efficiency of crime detection and prevention in Hong Kong by facilitating secure information sharing among authorised institutions (AIs) under specified conditions. The proposed legislation introduces a voluntary mechanism allowing AIs to share corporate and individual account information through secure platforms designated by…

Hong Kong bolsters banking security with new information-sharing Bill

The Hong Kong Government has announced a significant step forward in combating financial crime with the introduction of the Banking (Amendment) Bill 2025. According to GovHK, The Bill is set to enhance the efficiency of detecting and preventing crimes such as money laundering and terrorist financing through a new voluntary information-sharing mechanism among authorized institutions (AIs). This initiative, supervised by the Hong Kong Monetary Aut…