Hong Kong Monetary Authority

ESG / Sustainability

HKMA to Launch Physical Risk Assessment Platform for Banks

By Manesh Samtani | 12/12/2023

HKMA’s Arthur Yuen also said the first version of Hong Kong’s green classification framework will be released “very soon”.

Market Infrastructure

RBI in Talks With HK, US on Cross-border CBDC Payments

By Ajoy K Das | 08/12/2023

The RBI has set up a working group to create a roadmap for settling international remittances using CBDCs.

HKAB, DTCA Issue Revised Banking Code of Practice

By Sanday Chongo Kabange | 08/12/2023

Banks are expected to achieve full compliance with the new Code within 6 months. More time is given for provisions involving complex system changes.

IA, HKMA Start New Inspections on Use of Premium Financing

By Sanday Chongo Kabange | 07/12/2023

The IA and HKMA will assess compliance with new standards on the use of premium financing for life policies.

Fintech / Regtech

HKMA, BOT Launch Cross-border QR Payment Linkage

By Editors | 05/12/2023

Travellers from Thailand and Hong Kong can make retail payments by using their mobile banking apps to scan the Hong Kong and Thai QR codes displayed by merchants.

ESG / Sustainability

HKMA Sets Standards for Sale of Green & Sustainable Investment Products

By Sanday Chongo Kabange | 30/11/2023

Registered institutions that sell and distribute green and sustainable investment products have 12 months to comply.

AML / KYC

HKMA Fines Local Branch of CA Indosuez for AMLO Breaches

By Sanday Chongo Kabange | 30/11/2023

The HKMA fined CA Indosuez’s Hong Kong branch for failing to continuously monitor business relationships with some clients.

AML / KYC

HKMA Launches New Service to Alert FPS Users of Potential Fraud

By Sanday Chongo Kabange | 29/11/2023

The new alert mechanism will alert banking customers when an FPS proxy ID is flagged as “High Risk” on the Scameter search engine.

AML / KYC

HK Police, Banks Inaugurate New “Anti-Deception Alliance”

By Editors | 27/11/2023

Through the Alliance, ten participating banks will work alongside the police to provide real-time assistance in detecting, disrupting and deterring scams.