HKMA Launches 'Money Safe' Service to Protect Bank Deposits from Scams by Year-End

Retail banks fully launch Money Safe

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced today (December 30) that all retail banks (including digital banks) will have fully launched the Money Safe service for individual customers by or before December 31, and will embark on a series of publicity campaigns.

Money Safe is like setting up a safe within a bank account. Bank customers can specify the amount of deposits to be protected. When customers need to use the protected deposits, banks will conduct a face-to-face anti-scam verification with the customers, thus offering them a chance to carefully consider whether they have been scammed. Customers can transfer or withdraw the deposits only after completing the process.

Money Safe is suitable for all customer segments. For members of the public with bank deposits that they do not need to use in the near term, they may consider putting them under Money Safe protection. The HKMA will actively promote Money Safe in collaboration with the banking industry, including launching advertisements and various promotional campaigns, to help the public understand and make good use of this new service.

Deputy Chief Executive of the HKMA Mr Arthur Yuensaid, "Money Safe provides an additional layer of protection for deposits and is a highly useful anti-scam tool. Strengthening bank customers' ability to protect themselves is a crucial part of our anti-scam efforts. The HKMA will continue to collaborate with the banking sector, law enforcement agencies, and stakeholders to combat scams from all fronts. I urge the public to make full use of Money Safe while always remaining vigilant to prevent scams."

The Acting Chairperson of HKAB,Ms Rose Kay, said, "Enhancing customer protection is one of the HKAB's priorities this year. With all retail banks fully launching Money Safe, the banking industry will intensify the promotion to encourage wider adoption of Money Safe. The banking industry will continuously strengthen various anti-fraud measures and public education, joining hands with the HKMA and law enforcement agencies to combat scams."

HKMA, Photo source: reference image

Hong Kong Customs detects suspected case of illegal importing of animal

Hong Kong Customs today (April 2) detected a suspected case of illegal importing of animal at the Lok Ma Chau Spur Line Control Point. A suspected illegally imported dog with an estimated market value of about $20,000 was seized.

Customs officers today intercepted an incoming 64-year-old female passenger at the Arrival Hall of the Control Point. Upon examination, a dog was seized from her rucksack, and she was subsequently arrested.

The case has been handed over to the Agriculture, Fisheries and Conservation Department for follow-up investigation.

Customs reminds the public that importing animals into Hong Kong without a valid permit is an offence.

Under the Rabies Regulation, any person found guilty of illegally importing animals, carcasses or animal products is liable to a maximum fine of $50,000 and imprisonment for one year.

Hong Kong Customs detects suspected case of illegal importing of animal Source: HKSAR Government Press Releases