The Hong Kong Monetary Authority (HKMA) and The Hong Kong Association of Banks (HKAB) announced that all retail banks, including digital banks, will have fully launched the Money Safe service for individual customers by or before 31 December, alongside a series of publicity campaigns. Money Safe allows customers to designate an amount of deposits within their bank account for protection. To use these protected deposits, customers must complete a face-to-face anti-scam verification with the bank before transfers or withdrawals can proceed. The HKMA and the banking industry plan to promote Money Safe through advertisements and other promotional campaigns to support public understanding and uptake.
Hong Kong Monetary Authority 2025-12-30
Hong Kong Monetary Authority and Hong Kong Association of Banks confirm all retail banks will fully launch Money Safe anti-scam deposit protection service by 31 December
The Hong Kong Monetary Authority and The Hong Kong Association of Banks announced that all retail banks, including digital banks, will fully launch the Money Safe service for individual customers by 31 December. Money Safe allows customers to protect designated deposit amounts, requiring face-to-face anti-scam verification for transfers or withdrawals. The initiative will be supported by advertisements and promotional campaigns to enhance public understanding and uptake.