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Banking (Amendment) Ordinance 2025 to commence operation on November 3
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     The Government published in the Gazette today (September 5) the Banking (Amendment) Ordinance 2025 (Commencement) Notice to appoint November 3 as the commencement date for the Banking (Amendment) Ordinance 2025 (23 of 2025) (the Ordinance) to come into operation.
 
     The Ordinance was gazetted on June 13. The Ordinance introduces a voluntary mechanism for banks and relevant law enforcement agencies to share with each other, swiftly and safely via electronic means, information of corporate and individual accounts through secure platforms designated by the Hong Kong Monetary Authority, when banks become aware of suspected prohibited conduct (i.e. money laundering, terrorist financing or financing of proliferation of weapons of mass destruction). The Ordinance also provides legal protection for banks that disclose relevant information. The mechanism will enable banks and relevant law enforcement agencies to act swiftly to intercept illicit funds and expedite intelligence gathering.
   
     A Government spokesperson said, "The commencement of the Ordinance will enable timely implementation of the new mechanism. This important measure will provide better protection to the general public of Hong Kong from fraud and associated money laundering activities."
 
     The Notice will be tabled before the Legislative Council next Wednesday (September 10) for negative vetting.
 
Ends/Friday, September 5, 2025
Issued at HKT 11:00
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