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The Office of the Privacy Commissioner for Personal Data (PCPD) today published two sets of investigation findings. The first set of findings relates to the data breach incident of the Electrical and Mechanical Services Department and the second set of findings relates to the “blind” recruitment advertisements (Blind Ads) posted on the online platform of Jobs DB Hong Kong Limited (JobsDB).   (1)       Data Breach Incident of the Electrical and Mechanical Services Department (EMSD)  ...

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. December 06, 2024 Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances For release at 2:00 p. m. EST ...

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The Hong Kong Monetary Authority (HKMA) announced today (6 December) that it had completed an investigation and disciplinary proceedings for China CITIC Bank International Limited (CITIC) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the Laws of Hong Kong) (AMLO) (Note 1). The Monetary Authority (MA) has imposed a pecuniary penalty of HK$4,000,000 against CITIC for contraventions of the AMLO. The disciplinary action (Note 2)  follows an inves...

The Hong Kong Monetary Authority (HKMA) announced today (6 December) that the official foreign currency reserve assets of Hong Kong amounted to US$425. 1 billion as at the end of November 2024 (end-October 2024: US$421. 3 billion) (Annex). There were no unsettled foreign exchange contracts at end-November and end-October 2024. The total foreign currency reserve assets of US$425. 1 billion represent over five times the currency in circulation or about 39% of Hong Kong dollar M3. Ann...

The Hong Kong Monetary Authority (HKMA) and the Saudi Central Bank (SAMA) held a bilateral meeting in Hong Kong yesterday (5 December) to further strengthen the bilateral cooperation between the financial services sectors of the two jurisdictions. During the meeting, the HKMA and the SAMA engaged in an in-depth discussion covering several major areas, including financial infrastructure development, supervisory technology adoption, global investment outlook and opportunities, and experi...