Hong Kong's Financial Services and the Treasury Bureau published a Gazette notice appointing 3 November as the commencement date for the Banking (Amendment) Ordinance 2025, bringing into force a voluntary mechanism for banks and relevant law enforcement agencies to share account information via electronic means. The ordinance, gazetted on 13 June, enables banks and law enforcement agencies to share information on corporate and individual accounts through secure platforms designated by the Hong Kong Monetary Authority when banks become aware of suspected prohibited conduct, including money laundering, terrorist financing or financing of proliferation of weapons of mass destruction. It also provides legal protection for banks that disclose relevant information, with the mechanism intended to support faster interception of illicit funds and intelligence gathering. The commencement notice will be tabled before the Legislative Council on 10 September for negative vetting.
Financial Services and the Treasury Bureau (Hong Kong) 2025-09-05
Hong Kong's Financial Services and the Treasury Bureau sets 3 November commencement for voluntary bank and law enforcement account information sharing
Hong Kong's Financial Services and the Treasury Bureau announced the commencement of the Banking (Amendment) Ordinance 2025 on 3 November, enabling voluntary electronic information sharing between banks and law enforcement agencies. The ordinance facilitates secure sharing of account information to combat money laundering, terrorist financing, and proliferation financing, with legal protection for banks. The notice will undergo negative vetting by the Legislative Council on 10 September.