Hong Kong regulators strengthen collaboration to tackle increasingly sophisticated fraud, combining supervision, data-protection oversight, and public awareness efforts to enhance banks’ resilience

HKMA and the Privacy Commissioner announced enhanced cooperation to assess and improve banks’ anti-fraud systems and data security controls, with HKMA focusing on the effective implementation of anti-fraud measures and the PCPD reviewing personal data protection practices. They also plan joint publicity, education and outreach efforts with law enforcement and industry partners to raise public awareness of evolving scam tactics and highlight the importance of safeguarding personal and financial information…