{"id":30952,"date":"2025-11-12T03:02:13","date_gmt":"2025-11-12T03:02:13","guid":{"rendered":"https:\/\/prelive-tdw.visibleone.app\/?post_type=insight-and-news&#038;p=30952"},"modified":"2025-12-16T07:43:30","modified_gmt":"2025-12-16T07:43:30","slug":"legal-update-banking-amendment-ordinance-2025","status":"publish","type":"insight-and-news","link":"https:\/\/www.tannerdewitt.com\/zh-hant\/insight-and-news\/legal-update-banking-amendment-ordinance-2025\/","title":{"rendered":"Legal Update: Banking (Amendment) Ordinance\u00a02025\u00a0"},"content":{"rendered":"\n    \n\n<div style=\"background-image:url('https:\/\/www.tannerdewitt.com\/wp-content\/themes\/tanner-de-witt\/images\/insightdetails.jpeg')\"\n    class=\"insight-news-detail-hero\" id=\"insight-news-detail-hero\">\n\n\t\t<div style=\"background-color:\" class=\"insight-news-detail-hero-overlay \"><\/div>\n            <div class=\"z-[0]\">\n                <div class=\"insight-news-breadcrumbs flex items-end practice-areas-featured-breadcrumbs \">\n                    <a class=\"page-link no-underline\" href=\"https:\/\/www.tannerdewitt.com\/zh-hant\/\">Home<\/a>                <\/div>\n\n\n                <div class=\"hero-title\">\n                    <h1>\n                        Legal Update: Banking (Amendment) Ordinance\u00a02025\u00a0                    <\/h1>\n                <\/div>\n                \n                    <div style=\"\" class=\"hero-date \">\n\n                        <span class=\"month\">Nov<\/span>\n                        <span class=\"day\">12<\/span>\n                        <span class=\"year\">2025<\/span>\n                    <\/div>\n\n            <\/div>\n    \n\n    \n\n\n\n<\/div>\n\n\n\n<script >\n    (function () {\n        document.addEventListener(\"DOMContentLoaded\", () => {\n\n            const breadCrumbsContainer = Array.from(document.querySelectorAll(\".practice-areas-featured-breadcrumbs\"));\n\n            breadCrumbsContainer.forEach(container => {\n                const breadCrumbLinks = Array.from(container.querySelectorAll('.page-link'));\n                const breadCrumbSeperators = Array.from(container.querySelectorAll('.separator'));\n\n                if (Array.from(breadCrumbLinks).length === 1) {\n                    const homeNode = breadCrumbLinks[0];\n\n                    if (!homeNode) {\n                        return\n                    }\n\n                    const postTypeNode = homeNode.cloneNode(true);\n                    postTypeNode.textContent = \"Insights and News\";\n                    container.insertAdjacentHTML('beforeend', `<span class=\"separator practice-areas-featured-breadcrumb-item-slash\">\/<\/span>`)\n                    container.insertAdjacentElement('beforeend', postTypeNode)\n                    breadCrumbLinks.push(postTypeNode);\n\n                    if (\"Insights\") {\n                        const categoryNode = homeNode.cloneNode(true);\n\n                        categoryNode.textContent = \"Insights\";\n                        container.insertAdjacentHTML('beforeend', `<span class=\"separator practice-areas-featured-breadcrumb-item-slash\">\/<\/span>`)\n                        container.insertAdjacentElement('beforeend', categoryNode)\n                        breadCrumbLinks.push(categoryNode);\n                    }\n\n\n                    const titleNode = homeNode.cloneNode(true);\n\n                    titleNode.textContent = \"Legal Update: Banking (Amendment) Ordinance\u00a02025\u00a0\";\n                    container.insertAdjacentHTML('beforeend', `<span class=\"separator practice-areas-featured-breadcrumb-item-slash\">\/<\/span>`)\n                    container.insertAdjacentElement('beforeend', titleNode)\n                    breadCrumbLinks.push(titleNode);\n\n\n\n\n                }\n\n                breadCrumbLinks.forEach((link, index) => {\n\n                    link.classList.add('practice-areas-featured-breadcrumb-item-name');\n                    const origin = window.location.origin;\n                    const href = window.location.href;\n\n                    const originSplitter = window.location.href.includes(\"insight-and-news\") ? \"insight-and-news\" : window.location.href.includes('insights-and-news') ? \"insights-and-news\" : \"\"\n\n                    const paths = href.split(originSplitter);\n                    const links = paths[1].split(\"\/\").filter(Boolean)\n\n\n                    const resolvedOrigin = originSplitter ? (href.split(originSplitter)[0] || \"\") : (origin + \"\/\")\n\n                    if (index === 0) {\n\n                        if (!originSplitter) {\n                            link.href = origin\n                        } else {\n                            link.href = resolvedOrigin;\n                        }\n\n\n                    } else if (index === 1) {\n                        link.href = resolvedOrigin + originSplitter\n\n                    }\n                    else if (index === 2) {\n                        console.log(links)\n                        link.href = resolvedOrigin + originSplitter + \"\/\" + (links[0] || \"\")\n                    }\n                    else if (index === 3) {\n\n                        link.href = resolvedOrigin + originSplitter + \"\/\" + (links[0] || \"\") + \"\/\" + (links[1] || \"\")\n\n                    }\n\n\n\n                    \/\/ const words = link.textContent.split(\" \")\n                    \/\/ if (words.length > 4) {\n                    \/\/     link.textContent = words.slice(0, 4).join(\" \") + \"...\"\n                    \/\/ }\n\n                })\n\n                breadCrumbSeperators.forEach(separator => {\n                    separator.textContent = \"\/\"\n                    separator.classList.add('practice-areas-featured-breadcrumb-item-slash')\n                });\n\n\n            })\n\n\n        })\n        removeDivTag()\n    })();\n\n    function removeDivTag() {\n        console.log(\"remasfljas\");\n        const editorContainer = document.querySelector(\".editor-wysiwyg\");\n        \/\/ editorContainer.innerText = editorContainer.innerText.replace(\"<\/div>\", \"\")\n        Array.from(editorContainer.childNodes).forEach(el => {\n            if (el.textContent.includes(\"<\/div>\")) {\n                el.textContent = \"\"\n            }\n        })\n    }\n<\/script>\n\n<div class=\"editor-wysiwyg my-[40px]\">\n<div class=\"single-section\">\n<p>Fraud, particularly digital fraud, is on the rise\u00a0globally.\u00a0Hong Kong, as\u00a0an international financial centre, trading hub\u00a0and an\u00a0intermediary between Mainland China and the global market,\u00a0has\u00a0strengthened its anti-fraud\u00a0efforts.\u00a0These include\u00a0enhancing\u00a0information sharing\u00a0through public-private partnerships\u00a0between the Hong Kong Police Force and the\u00a0banking\u00a0sector.\u00a0However,\u00a0there\u00a0remains\u00a0an information gap\u00a0which is often exploited by criminals to move and conceal illicit funds\u00a0across their mule account networks.\u00a0\u00a0\u00a0<\/p>\n<p>In an effort to\u00a0narrow\u00a0this information gap,\u00a0the Government has recently proposed to amend the Banking Ordinance to\u00a0put in place a mechanism of AI-to-AI\u00a0information\u00a0sharing.\u00a0The proposed mechanism will provide a safe harbour for AIs to share with each other information of both corporate and individual accounts\u00a0on a voluntary basis.\u00a0It aims\u00a0to\u00a0allow for more effective detection and prevention of\u00a0prohibited conduct, including money laundering, terrorist financing, and financing of proliferation of weapons of mass destruction\u00a0(\u201c<strong>Prohibited Conduct<\/strong>\u201d).\u00a0<\/p>\n<p>In this update,\u00a0<a href=\"https:\/\/www.tannerdewitt.com\/our-people\/padraig-walsh\/\" target=\"_blank\" rel=\"noreferrer noopener\">P\u00e1draig Walsh<\/a>\u00a0from our\u00a0<a href=\"https:\/\/www.tannerdewitt.com\/practice-areas\/data-privacy\/\" target=\"_blank\" rel=\"noreferrer noopener\">Data Privacy<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.tannerdewitt.com\/practice-areas\/cybersecurity\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cybersecurity<\/a>\u00a0practice looks at\u00a0the Banking (Amendment) Ordinance 2025\u00a0(\u201c<strong>Amendment Ordinance<\/strong>\u201d).\u00a0The Amendment Ordinance,\u00a0gazetted\u00a0on 12 June 2025\u00a0and now in force since 3 November 2025.\u00a0<\/p>\n<p>The\u00a0key\u00a0features of the proposed mechanism\u00a0are\u00a0as follows:\u00a0<\/p>\n<p>(a) The voluntary mechanism allows for the disclosure of information concerning a customer of an AI who may be linked to\u00a0any\u00a0Prohibited\u00a0Conduct, as well as any related entity, account, or transaction associated with that customer.\u00a0\u00a0Examples include:\u00a0<\/p>\n<p>(i) bank account numbers;\u00a0<\/p>\n<p>(ii) personal data\u00a0(e.g.\u00a0name, date of birth, Hong Kong\u00a0Identify Card number)\u00a0of the customer in question,\u00a0the\u00a0counterparties,\u00a0and\u00a0beneficial owners\u00a0or connected parties of the customer;\u00a0<\/p>\n<p>(iii) details of relevant transactions\u00a0including the counterparties; and\u00a0<\/p>\n<p>(iv) reasons why\u00a0the transactions or activities may be involved in\u00a0a\u00a0Prohibited\u00a0Conduct.\u00a0<\/p>\n<p>(b) An AI may request another AI to\u00a0disclose\u00a0information\u00a0in aid of\u00a0its inquiry\u00a0for detecting or preventing\u00a0Prohibited\u00a0Conduct.\u00a0The\u00a0recipient\u00a0AI\u00a0may\u00a0disclose\u00a0information to the requesting AI in response to such request.\u00a0Alternatively, an AI may\u00a0disclose\u00a0information on its own initiative to another AI and the Joint Financial Intelligence Unit (JFIU)\u00a0to alert the\u00a0recipient\u00a0AI of suspected crime.\u00a0An AI\u00a0may share\u00a0information bilaterally or\u00a0with multiple\u00a0parties\u00a0via\u00a0FINEST or other secure platforms\u00a0designated\u00a0by the Hong Kong Monetary Authority (\u201c<strong>HKMA<\/strong>\u201d).\u00a0\u00a0<\/p>\n<p>(c) Where an AI has reasonable grounds to believe that\u00a0seeking\u00a0the\u00a0data subject\u2019s consent\u00a0would risk prejudicing the conduct of inquiries for the detection or prevention of prohibited conduct,\u00a0disclosure may be made\u00a0without\u00a0such consent.\u00a0<\/p>\n<p>(d) A safe harbour\u00a0from prosecution or civil liability\u00a0is available to\u00a0AIs\u00a0that\u00a0make disclosures\u00a0under the mechanism\u00a0in good faith, with\u00a0reasonable\u00a0care,\u00a0and in compliance with\u00a0the\u00a0confidentiality requirements\u00a0under section 68AAF of the Amendment Ordinance.\u00a0\u00a0<\/p>\n<p>The HKMA will issue guidelines\u00a0to\u00a0assist\u00a0AIs in safeguarding data privacy and confidentiality when sharing information under the mechanism.\u00a0<\/p>\n<p><strong>Concluding remarks<\/strong>\u00a0<\/p>\n<p>The Amendment Ordinance\u00a0marks\u00a0a\u00a0significant\u00a0step for Hong Kong\u00a0in aligning with\u00a0international practice, introducing legislation\u00a0that\u00a0permits\u00a0information\u00a0sharing among financial\u00a0institutions\u00a0and other regulated entities\u00a0to\u00a0facilitate\u00a0the detection and prevention of crime.\u00a0This\u00a0information\u00a0sharing mechanism is expected to\u00a0strengthen\u00a0Hong Kong\u2019s\u00a0ability\u00a0to combat fraud.\u00a0<\/p>\n<p>The\u00a0Banking (Amendment) Ordinance\u00a02025\u00a0is available\u00a0at\u00a0this\u00a0<a href=\"https:\/\/www.legco.gov.hk\/yr2025\/english\/ord\/2025ord023-e.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">link<\/a>.\u00a0<\/p>\n<p>\u00a0<\/p>\n<p class=\"has-text-align-right\"><em><strong>P\u00e1draig Walsh<\/strong><\/em><\/p>\n<p>If you want to know more about the content of this article, please contact:<\/p>\n<p><a href=\"https:\/\/www.tannerdewitt.com\/our-people\/padraig-walsh\/\">P\u00e1draig Walsh<\/a><\/p>\n<p>Partner |\u00a0<a href=\"mailto:padraigwalsh@tannerdewitt.com\">Email<\/a><\/p>\n<p><em>Disclaimer: This publication is general in nature and is not intended to constitute legal advice. You should seek professional advice before taking any action in relation to the matters dealt with in this publication. This article was published on 12 November 2025.<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n\n<\/div>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fraud, particularly digital fraud, is on the rise\u00a0globally.\u00a0Hong Kong, as\u00a0an international financial centre, trading hub\u00a0and an\u00a0intermediary between Mainland China and the global market,\u00a0has\u00a0strengthened its anti-fraud\u00a0efforts.\u00a0These include\u00a0enhancing\u00a0information sharing\u00a0through public-private partnerships\u00a0between the Hong Kong Police Force and the\u00a0banking\u00a0sector.\u00a0However,\u00a0there\u00a0remains\u00a0an information gap\u00a0which is often exploited by criminals to move and conceal illicit funds\u00a0across their mule account networks.\u00a0\u00a0\u00a0 In an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30940,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"tags":[],"insight-category":[1121],"insight-month":[1149],"insight-practice-area":[1146,1142],"insight-year":[1147],"class_list":["post-30952","insight-and-news","type-insight-and-news","status-publish","has-post-thumbnail","hentry","insight-category-legal-updates-and-insights","insight-month-november","insight-practice-area-cybersecurity","insight-practice-area-technology-media-and-telecommunications-tmt","insight-year-1147"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news\/30952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news"}],"about":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/types\/insight-and-news"}],"author":[{"embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":2,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news\/30952\/revisions"}],"predecessor-version":[{"id":31114,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-and-news\/30952\/revisions\/31114"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/media\/30940"}],"wp:attachment":[{"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=30952"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=30952"},{"taxonomy":"insight-category","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-category?post=30952"},{"taxonomy":"insight-month","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-month?post=30952"},{"taxonomy":"insight-practice-area","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-practice-area?post=30952"},{"taxonomy":"insight-year","embeddable":true,"href":"https:\/\/www.tannerdewitt.com\/zh-hant\/wp-json\/wp\/v2\/insight-year?post=30952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}