Money Safe Goes Live Across Hong Kong Retail Banks

Money Safe goes live across Hong Kong retail banks

Hong Kong’s retail banking sector has completed the full rollout of a new deposit protection feature designed to strengthen defences against financial scams, following a joint announcement from the Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB). As of 31 December, all retail banks in the city, including digital-only institutions, have launched the Money Safe service for individual customers, marking a coordinat…

Hong Kong banks roll out Money Safe anti-scam service

Hong Kong’s retail banking sector has completed the full rollout of Money Safe, a new deposit protection feature designed to strengthen consumer safeguards against financial scams. The Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB) confirmed that all retail banks, including digital banks, had launched the service for individual customers by or before 31 December, alongside plans for coordinated public awareness…

HK Banks Launch Money Safe Service to Protect Deposits

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) announced on 30 December that all retail banks, including digital banks, will have fully launched the Money Safe service for individual customers. Banks will also undertake a series of publicity efforts to raise awareness of the service. Money Safe lets customers protect a portion of their deposits. Banks require a face-to-face anti-scam verification before all…