Beware of fraudsters posing as HKMA staff, issuing forged documents to deceive people into placing funds with unauthorised institutions. Report any such activities to the Police.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
SFC Regulation of Virtual Asset Trading Platforms: The Emerging Hong Kong Framework
SFC proposes new regulation of virtual assets through licensing of operators of cryptocurrency and other digital asset trading platforms
Market Misconduct Tribunal: A Guide to Penalties and Other Consequences for Misuse of Insider Information
Market Misconduct Tribunal proceedings for mishandling of insider information can result in fines and disgorgement orders
SPOTLIGHT ON
FAMILY OFFICES
The Hong Kong Monetary Authority ("HKMA") has recently encountered public inquiries regarding fraudulent activities where individuals are impersonating senior staff of the HKMA. These fraudsters are disseminating forged documents that falsely label certain securities or investment companies as 'recognized financial institutions'. Their aim is to deceive the public into investing funds with these companies as a prerequisite for loan approval.
The HKMA wishes to unequivocally state that these schemes are fraudulent in nature. The HKMA will not initiate any contact with individual members of the public regarding personal financial matters.
To verify the authenticity of a financial institution authorized by the HKMA, members of the public are advised to consult the Register of Authorized Institutions and Local Representative Offices available on the HKMA website.
The HKMA has duly reported these fraudulent activities to the Hong Kong Police Force.
Any member of the public who suspects they have fallen victim to fraudulent activities should promptly contact the Police or the Commercial Crime Bureau at 2860 5012 for further investigation and follow-up actions.
View the full article:Source
