China: Navigating China episode 16: New data lifecycle guidelines for financial institutions in China – detailed assessments, additional security measures and some data localisation introduced
DLA Piper Privacy Matters
APRIL 20, 2021
This introduces a data lifecycle security framework, and represents the key guideline for handling personal and other financial information by financial institutions (i.e. For example, apps and web terminals operated by financial institutions must not retain any information at level 3 or above once the transaction in question is concluded.
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