HKMA’s Money Safe plan set to safeguard Hongkongers’ bank balances from fraud

Quick Summary:

Additional verification procedures will be necessary to transfer locked-up funds when banks roll out the optional tool next year.

The protected amounts will continue to enjoy the same interest and benefits that the accounts provide.

Banks will decide on the implementation details based on their own operational arrangements.

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Article Details

Author / Journalist: Aileen Chuang

Category: Business

Markets: Hong Kong

Topics: Verification Customers Able Additional Measure Provide Year Bank Accounts Banks Fraud

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 17:30:09 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 255 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24088280

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