The Government today welcomed the Legislative Council’s passage of the Banking (Amendment) Bill 2025, which enables sharing of account information among banks under specified conditions in order to facilitate the detection and prevention of crime in Hong Kong.

The amendment ordinance introduces a voluntary mechanism allowing banks and law enforcement agencies to share information with each other – swiftly and safely, via secure platforms designated by the Monetary Authority – relating to corporate and individual accounts, when banks become aware of suspected activities such as money laundering, or the financing of terrorist activities or of the proliferation of weapons of mass destruction.

The bill also provides legal protection for banks that disclose relevant information.

The mechanism will enable banks and law enforcement agencies to act swiftly to intercept illicit funds and expedite intelligence gathering with a view to protecting the public from fraud and associated money laundering activities.

Secretary for Financial Services & the Treasury Christopher Hui said the new mechanism not only enhances Hong Kong’s ability to combat fraud and associated money laundering activities, thereby providing better protection for citizens, but also helps maintain the stability of Hong Kong’s banking system and underscores the city’s efforts, as an international financial centre, to combat illegal activities.

The amendment ordinance will come into effect this year. The commencement date will be announced separately.