Data protection ‘high on the agenda’, says PBoC governor
The central bank has forced major fintech firms to hand over their customer data
Personal data protection is “high on the agenda” of the People’s Bank of China, said governor Yi Gang in a speech that called for more co-ordinated global efforts to tackle the issue.
The central bank has been clamping down excessive collection and unfair clauses requiring data, as fintech players increasingly leverage data to profit from customers, breeding cases of misuse, Yi said at a fintech conference organised by the Hong Kong government today (November 3).
Yi said Europe Union’s General
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
AI is a double-edged sword for cyber security – UK survey
Study reveals technology’s increased use in financial sector, where three providers are dominant
Dedollarisation pushing central banks to issue CBDC, official says
Panellists at Central Banking’s Autumn Meetings list AI “data poisoning” as new cyber security threat
Sustainable development: central banks taking the lead
For those still sceptical about the financial sector’s commitment to progress on sustainable development goals and to taking all possible steps to tackle climate change, 2024 has shown that central banks, financial sector regulators and supervisors are…
Advancing monetary policy tech in the new economic landscape
Central banks face unprecedented challenges in adapting their models to the demands of repeated and interacting crises – polycrisis, as some call the current moment – and high levels of uncertainty. This white paper explores how central banks can deploy…
Programmable money ‘a key benefit of CBDCs’
However, Central Banking Autumn Meetings hear that use case for a retail version is “missing”
Global Technology Partner: ACI Worldwide
ACI Worldwide powers 26 domestic and pan-regional real-time payments schemes across six continents, including 10 central infrastructures, providing solutions to central banks, participant banks, fintechs and other payment service providers
Central Banking’s seventh annual FinTech & RegTech Global Awards
Central Banking is pleased to announce the winners of its seventh annual FinTech & RegTech Global Awards recognising excellence in the central banking community
Deutsche Bundesbank joins Project Guardian
Germany joins France, Japan, Switzerland and UK in MAS tokenisation initiative