The Consumer Council has revealed that some e-wallet companies have problematic data storage procedures, with information on "Alipay customers was stored permanently while Bank of Communications, O!ePay and TNG Wallet would retain the information for six to seven years," the South China Morning Post reports. An Alipay spokeswoman countered that only a "small portion" of consumers' records was stored in the event of a money laundering investigation, and TNG Wallet said it maintained customer records to "meet the same standard established by the Hong Kong Monetary Authority," the report states. However, council member Michael Hui King-man argued that the Personal Data (Privacy) Ordinance specified that “personal data should not be kept longer than is necessary." (Registration may be required to access this story.)
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