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HKMA to Cut 2026 Budget, Freeze Hiring, Reports Say
By Sanday Chongo Kabange | 29/07/2025
The HKMA will reportedly reduce its operating budget by 5 percent and halt new hiring, aligning with broader government austerity measures.
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.
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