Log In | Subscribe | | |

HKMA

What is it with Hong Kong and its banks? The Hong Kong Monetary Authority has just announced yet another one is the victim of a passing-off campaign by internet fraudsters. It's the third this week and it's only Thursday.

And then there's this "In view of the latest situation of COVID-19, the HKMA hotline and Coin Cart services are temporarily suspended. The HKMA Information Centre is also temporarily closed to the public. Please visit the HKMA website/official Facebook page for details or latest updates:

Hotline services: HKMA website
Coin Cart services: HKMA website / official Facebook page
HKMA Information Centre: HKMA website"

BIScom Subsection: 

Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority, today set out Hong Kong's stall. Is today's statement an indication of success or a note being of not-quite competitive?

The Hong Kong Monetary Authority (HKMA) today announces a new service schedule of the two “Coin Carts” under the Coin Collection Programme, for the period of 20 May 2019 up to 28 July 2019. The schedule and other details of the Programme are shown on the HKMA webpage (coincollection.hkma.gov.hk). (press release) .

Comment: Virtual banking is recognised, cryto-currencies are not.

BIScom Subsection: 

The Hong Kong Monetary Authority, in its daily announcement timed for after everyone except Compliance has set off for Lan Kwai Fong (17:39, this one arrived), has some startling news for all those who are wetting themselves over the future of FinTech. A third of applicants for licences made such a mess of the process that the HKMA has thrown them out.

The Hong Kong Monetary Authority released this statement at 17:30 HKG time (11:30 GMT) today.

BIScom Subsection: 

The Hong Kong Monetary Authority (HKMA) has issued warnings relating to fake websites and/or phishing attacks on customers of three banks: China Citic, OCBC Wing Hang and Bank of China.

FCRO Subsection: 

In a notice issued by the Hong Kong Monetary Authority at or about 17:30 today, Hong Kong time, Carmen Chu, Executive Director (Enforcement and Anti Money Laundering) says "The adequacy of sanctions screening systems and controls is a supervisory priority for the HKMA, especially in the light of recent geopolitical developments." The notice is serious reminder to stored value facilities licensees that even though, mostly, the amounts involved are small, the regulatory requirements are not significantly diminished in some important areas.

FCRO Subsection: 

Hong Kong Monetary Authority has issued a warning relating to a suspicious internet banking mobile application (App) related to Wing Lung Bank Limited.

BIScom Subsection: 

One always has to adopt a basic position of scepticism when someone appears to think they are being clever by using a popular phrase: an example is Dame Nemat Talaat Shafik, who likes to be known as "Minouche,", the Deputy Governor, Markets and Banking, of the Bank of England and a Member of the Bank of England Monetary Policy Committee. Her paper "Think Global, Act Local" is the start of her swansong : she is to leave the BoE in February 2017 to become Director, London School of Economics.

The Hong Kong Monetary Authority has identified a website which it says is fraudulent and a fake of a real bank's online presence. Of itself, that's not especially rare. But this one is different: the name of the site is in Chinese characters and there aren't very many of them around.

BIScom Subsection: