Cyber Security Series – Personal Information Protection Of Financial institutions

Cyber security and data protection has been arising as issues that financial institutions of China must be confronting with, among which personal information shall be emphasized mostly. In April, 2018, Shanghai Police Bureau disclosed several crimes regarding infringing citizen's private information, one of which was that more than 10 million pieces of private information have been illegally disclosed and traded by two former employees and two current employees of an insurance company over less than six months, with illegal amount of over 20 million RMB (Chinese Yuan).¹

On May 30, 2018, the former China Insurance Regulatory Commission, Jiangsu Bureau released "The Warning on Prevention of Disclosure Risk of Private Information of Insurance Customers", pointing out that recently crimes regarding infringing citizen's private information occurred in Jiangsu Province and local branches of life insurance companies and insurance agencies should give top priority on