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Finance

As Japan ponders data rules, 40% of financial firms send user info overseas

Beyond Line, banks, brokerages and insurers outsource tech to China and elsewhere

Of the 49 financial services companies that responded to a Nikkei poll, 21 said they have sent user data from Japan overseas.

TOKYO -- With Japanese corporate management of personal information under scrutiny after revelations at messaging app Line, a Nikkei survey shows that about 40% of leading financial services institutions in Japan store or transfer customer data abroad.

Nikkei's poll included banks, brokerages, insurers, credit card issuers, leasing businesses and payment service providers. Of the 49 respondents, 21 said they have transferred customer data outside Japan, while 24 have not and four declined to answer. Destinations for the data include China, the U.S., Singapore, South Korea, Australia and France.

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