The Hong Kong Monetary Authority ("HKMA") warns the public that International Private Banking Hong Kong is not authorized to carry on banking business or take deposits in Hong Kong. Public should verify any organization offering bank accounts or soliciting deposits.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Monetary Authority ("HKMA") advises the public that International Private Banking Hong Kong is unauthorized to conduct banking business or take deposits in Hong Kong, as it lacks the required authorization from the Monetary Authority ("MA") under the Banking Ordinance. Furthermore, the company does not have approval to establish a local representative office in Hong Kong under the same ordinance.
In light of the global accessibility of the Internet, the HKMA urges individuals to verify the legitimacy of any organization offering bank accounts or soliciting deposits via the web before transferring funds or sharing personal information.
For verification purposes, the public is encouraged to consult the HKMA's website for a list of authorized institutions. Additionally, members of the public can email the HKMA's public enquiry service to check the status of any entity suspected of unauthorized deposit-taking activities.
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