Hong Kong’s central bank to introduce framework on sharing scam-related losses

Quick Summary:

The city’s financial regulator has received more complaints about scams this year, while overall losses grow.

Banks are doing a better job than expected at taking full responsibility and reimbursing lost funds, according to a survey by financial technology company FIS.

The aim is to clearly communicate the guiding principles regarding such cases, he said.

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Article Details

Author / Journalist: Aileen Chuang

Category: Business

Markets: Hong Kong

Topics: Consultation Hong Information Yuen Financial Scams Kong Customers Personal Losses Banks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 17:30:12 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 254 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 26 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22749147

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Official Website: scmp.com

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