Bank Secrecy Laws (China) | Practical Law

Bank Secrecy Laws (China) | Practical Law

A Practice Note discussing the laws, regulations, and guidance governing bank secrecy in China (PRC) including the Law on Commercial Banks, the Anti-Money Laundering Law, and the Administrative Regulations on the Credit Reporting Industry. This Note provides guidance for banking institution handling customer data in China on complying with bank secrecy obligations, the circumstances in which they can disclose customer data to third parties, and required steps to permit disclosure. This Note also discusses the Personal Information Protection Law, the Data Security Law, and the Cybersecurity Law and how banks should address data protection obligations when handling customers' personal information.

Bank Secrecy Laws (China)

Practical Law UK Practice Note w-016-1111 (Approx. 21 pages)

Bank Secrecy Laws (China)

MaintainedChina
A Practice Note discussing the laws, regulations, and guidance governing bank secrecy in China (PRC) including the Law on Commercial Banks, the Anti-Money Laundering Law, and the Administrative Regulations on the Credit Reporting Industry. This Note provides guidance for banking institution handling customer data in China on complying with bank secrecy obligations, the circumstances in which they can disclose customer data to third parties, and required steps to permit disclosure. This Note also discusses the Personal Information Protection Law, the Data Security Law, and the Cybersecurity Law and how banks should address data protection obligations when handling customers' personal information.