HKMA reminds the public to verify authorisation status before placing deposits
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The Hong Kong Monetary Authority (HKMA) has, from time to time, received public enquiries on whether the entities concerned are banks or authorised institutions (note), and whether those entities are authorised to take deposit and subject to the supervision of the HKMA.
The HKMA would like to remind the public that, pursuant to the Banking Ordinance, no person other than an authorized institution is permitted to carry on in Hong Kong business of taking deposits, to issue advertisements relating to deposits, and to issue statements on authorised status. Members of the public may check the status of any entity which holds itself out as a bank or an authorised institution, or solicits deposits from the public by referring to the HKMA's website (vpr.hkma.gov.hk/eng/regulatory-resources/registers/register-of-ais-and-lros) or by calling its public enquiry hotline 2878 8222.
Note: Authorised institution means a bank, a restricted licence bank or a deposit-taking company under the Banking Ordinance.
Ends/Friday, December 6, 2019
Issued at HKT 16:30
Issued at HKT 16:30
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