Hong Kong Monetary Authority

Climate Risk

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”.

CBDCs

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.

Conduct, Culture & Accountability

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.

Credit Risk

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.

Payments & Settlements

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.

Sustainable Finance

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.

Anti-Money Laundering

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.

Fraud, Scams & Cybercrime

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.

Fraud, Scams & Cybercrime

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.