The Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks and the banking and SVF sectors have backed the introduction of anti-fraud search engine.
According to HKMA, the ‘Scameter’ search engine by the Hong Kong Police Force will enhance the prevention, detection and disruption of fraud in Hong Kong as well as cut public financial losses.
Scameter will allow the public to search various data (including bank account numbers, SVF user IDs and phone numbers) and provides a coloured risk-rated response.
Where the inputted data is linked to fraud, Scameter helps alert the public to the potential level of risk before making payments or conducting transactions which could potentially expose them to prevalent types of fraud, such as online shopping fraud, investment fraud and romance scams.
The HKMA said this data also represents relevant information for banks and SVF licensees in their ongoing anti-fraud efforts.
The HKMA also publicises consumer educational messages on its dedicated webpage and makes joint efforts with the banking and SVF sectors in raising public awareness of fraud. The HKMA will continue its engagement with banks and SVF licensees to enhance the efficiency of AML/CFT controls and further protect the public from fraud and financial crimes.
It was recently revealed that the Hong Kong government is planning to bring in a range of financial incentives to address skill shortages in the FinTech sector.
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