Hong Kong: PCPD commences compliance checks of credit reference agencies to ensure data security of databases
On June 5, 2023, the Office of the Privacy Commissioner for Personal Data (PCPD) announced that it will proactively commence compliance checks of all credit reference agencies in Hong Kong in order to ensure the protection of the personal data privacy of borrowers and the data security of credit reference databases. In particular, the PCPD noted that the compliance checks are pursuant to its findings of the Softmedia investigation report, and the concerns raised by the community on the handling of borrowers' credit data by credit reference databases in Hong Kong. The checks will cover whether the security measures adopted by the credit reference agencies, in respect of the credit data of borrowers and the retention period of such data, comply with the requirements of the Personal Data (Privacy) Ordinance (Cap. 486) as amended in 2021 (PDPO).
You can read the press release here.