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China's revised draft of anti-money laundering law proposes bolstering data protection

( November 1, 2024, 04:17 GMT | Official Statement) -- MLex Summary: The revised draft of China's Anti-Money Laundering Law proposed requiring financial institutions to comply with relevant information-protection laws when sharing anti-money laundering information internally or among group members, according to Huang Haihua, a spokesperson for the Legislative Affairs Commission of the NPC Standing Committee. It is one of the provisions in the draft to better protect data security and citizens' personal information. The draft also added provisions to protect personal privacy and establish legal liability for state personnel leaking anti-money laundering information, as well as require institutions providing such services and their staff to properly handle the data. Below please find the statement: ...

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