The Hong Kong Monetary Authority issued an alert urging the public to be cautious of advertisements inviting Hong Kong residents to open accounts or apply for payment cards with certain payment platforms or banks outside Hong Kong and to transfer funds to them for gambling activities. These entities are not stored value facility licensees or authorized institutions in Hong Kong and are therefore not regulated by the HKMA, and any funds placed with them are not protected by Hong Kong law. In case of doubt, the HKMA pointed consumers to its online registers of stored value facility licensees and authorized institutions, and its public enquiry service.
Hong Kong Monetary Authority 2025-02-27
Hong Kong Monetary Authority warns public about ads urging transfers to unlicensed offshore payment platforms and banks for gambling
The Hong Kong Monetary Authority issued an alert warning the public about advertisements promoting account openings or payment card applications with unregulated foreign payment platforms or banks for gambling activities. These entities are not licensed or authorized in Hong Kong, and funds with them are not protected by Hong Kong law. The HKMA advises consumers to consult its online registers and public enquiry service for verification.