HONG KONG MONETARY AUTHORITY

AML / KYC

Hong Kong Bank Complaints Surge as Anti-Fraud Measures Increase Customer Friction

By Sanday Chongo Kabange | 29/07/2025

The HKMA has urged banks to improve customer communication as enhanced account monitoring drives a sharp rise in complaints.

Fintech / Regtech

Hong Kong Developing New Rules to Support Elderly Banking Consumers

By Sanday Chongo Kabange | 25/07/2025

Regulators will issue elderly-friendly banking guidelines to improve the banking experience for seniors, and require banks to offer a "default no-online banking" option to customers.

Market Infrastructure

Hong Kong to Expand Mandatory Reference Checks for Bankers

By Sanday Chongo Kabange | 25/07/2025

From September 2025, the MRC Scheme will be expanded to cover 50,000 frontline staff involved in securities, insurance, or mandatory provident fund regulated activities.

Crypto / Digital Assets

HKMA Warns of 'Frothiness' in Stablecoin Market, Signals Strict AML Rules

By Sanday Chongo Kabange | 24/07/2025

The HKMA will grant only a handful of stablecoin issuer licences initially and impose stringent AML rules amid concerns over market speculation.

Enforcement

HKMA Fines Four FIs HKD 17.8M for AML and CDD Failures

By Sanday Chongo Kabange | 23/07/2025

The HKMA has penalised three banks and a stored value facility licensee for AML/CFT control deficiencies.

Crypto / Digital Assets

HKMA to Adopt Invitation Only System for Stablecoin Licensing - Report

By Sanday Chongo Kabange | 22/07/2025

The HKMA will reportedly only issue an application form after a potential applicant has been pre-screened and gained "basic recognition" during initial vetting.

Capital / Liquidity

HKMA Issues Updated Guidance on IRB Model Validation

By Sanday Chongo Kabange | 21/07/2025

The updated guidance introduces stricter requirements on data architecture, conceptual model soundness, group-wide systems, and the use of external benchmarks

Capital / Liquidity

HKMA Rejects Rumours About Possible Establishment of 'Bad Bank'

By Editors | 18/07/2025

The HKMA has dismissed reports that lenders were discussing the establishment of a new vehicle to handle rising non-performing loans.

Fintech / Regtech

HKMA to Expand Use of Granular Risk Data from Banks

By Sanday Chongo Kabange | 17/07/2025

Carmen Chu announced the results of HKMA's "Fintech Maturity Stock-take" exercise and plans to consult the industry on the development of a new data strategy.