Bloomberg News

CITIC Bank, Hang Seng Broke Privacy Regulations, Commission Says

December 15, 2011

Dec. 15 (Bloomberg) -- Hong Kong’s privacy watchdog said today that two Hong Kong-based banks, CITIC Bank International Ltd. and Hang Seng Bank Ltd., violated privacy rules.

CITIC Bank transferred the data of 150,000 customers to three insurance companies for direct marketing between 2006 and 2010, the Office of the Privacy Commissioner for Personal Data said in a statement on its website. CITIC Bank has since stopped the practice, the commission said.

Hang Seng Bank kept its clients bankruptcy data for 99 years instead of eight years, the statement said. Hang Seng has since amended its policy, the statement said.

The commission said Hong Kong’s legislature is considering tougher privacy laws.

--Editor: Mohammed Hadi

To contact the reporter on this story: Shai Oster in Hong Kong at soster@bloomberg.net

To contact the editor responsible for this story: Mohammed Hadi at mhadi1@bloomberg.net


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