HKMA Publishes Circular on Combating Digital Fraud

12 October 2023

HKMA Publishes Circular on Combating Digital Fraud

The Hong Kong Monetary Authority (HKMA) has published a circular on enhanced approaches to combat digital fraud.

The circular provides Authorized Institutions with an update on enhancements being made to combat digital fraud.

It covers:

Information Sharing;
Transaction Monitoring – Real-time Fraud Monitoring System; and
Customer Alerts – Faster Payment System (FPS) Suspicious Proxy ID Alert Model.

Firms with operations in or with Hong Kong should review the HKMA publication and take any appropriate action.

Read the full circular

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