The Hong Kong Monetary Authority, Securities and Futures Commission, Insurance Authority, and Mandatory Provident Fund Schemes Authority launched the Anti-Scam Consumer Protection Charter 3.0 on July 09, 2025. The charter aims to combat financial frauds and scams through collaboration among financial regulators, technology firms, and telecommunications companies. The launch event included discussions on combating frauds and scams, with executives from various agencies emphasizing the importance of collective efforts for public protection.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On July 09, 2025, the Hong Kong Monetary Authority ("HKMA"), the Securities and Futures Commission ("SFC"), the Insurance Authority ("IA"), and the Mandatory Provident Fund Schemes Authority ("MPFA") introduced the Anti-Scam Consumer Protection Charter 3.0 (Charter 3.0). This latest iteration builds upon the success of Charters 1.0 and 2.0, launched in 2023 and 2024 respectively, to further enhance efforts against financial frauds and scams. Charter 3.0 prioritizes the reporting of suspected financial frauds, the vetting of advertisers, the monitoring of internal processes, the enforcement of terms of service, and collaborative public education and awareness campaigns. This framework includes support from the Consumer Council, the Hong Kong Association of Banks, the Hong Kong Police Force, and the Office of the Communications Authority.
At the launch event, representatives from financial regulators, technology firms, and telecommunications companies participated in discussions on the latest financial fraud trends and collaborative strategies to address these issues. Mr Eddie Yue, Chief Executive of the HKMA, underscored the importance of a united front to protect the public against financial frauds and scams. He highlighted that Charter 3.0 leverages the combined expertise and resources of the financial, technology, and telecommunications sectors to enhance public security. Ms Julia Leung, Chief Executive Officer of the SFC, noted that Charter 3.0 is a pivotal step in combatting online scams by engaging major technology and telecommunications companies. This initiative aligns with international efforts and positions Hong Kong as a leader in digital security. Mr Clement Cheung, Chief Executive Officer of the IA, emphasized the collaborative efforts of key stakeholders in forming a strong alliance to prevent financial frauds and scams. He stressed the IA's dedication to public education and empowering policyholders to defend against sophisticated scams.
Mr Cheng Yan-chee, Managing Director of the MPFA, highlighted that the MPF is a critical retirement savings vehicle, and the MPFA is committed to combating any fraudulent activities that endanger retirees' savings. He expressed satisfaction with the cooperation among financial regulators, enforcement agencies, and relevant organizations under Charter 3.0 to combat scams and enhance anti-scam awareness. He urged the public to remain vigilant and actively report suspected scams to protect their MPF interests. The launch event featured speeches and remarks from representatives of the financial regulators, supporting organizations, and participating technology firms and telecommunications companies.
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