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FINANCIAL SERVICES | Tony Chua, Hong Kong
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Monetary Authority approves Octopus auditor's appointment

Deloitte Touche Tohmatsu to report whether any third parties had access to Octopus cardholders' personal data.

The Monetary Authority has approved Octopus Cards Limited's appointment of Deloitte Touche Tohmatsu to prepare an independent auditors' report, according to an Information Services Department report.

The report will establish whether any third parties, including any related companies of Octopus, had access to or received from it any Octopus cardholders' personal data, and if so, whether the use of such data complied with laws, codes and regulations.

It will cover the period from the date when such personal data was first provided to third parties to the start date of the review.

The scope and process of the review is subject to the authority's oversight and control. Submission of the report is expected within 10 weeks after the review starts.

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