Regulatory Alerts2016-11-18
Added · Updated
Adjustment of Maximum Transaction Limit for Small-Value Internet Banking Payments
The Hong Kong Monetary Authority has increased the daily maximum transaction limit for small-value funds transfers via Internet banking without two-factor authentication to HK$5,000 per account. This regulatory change, effective immediately, responds to industry feedback and aims to meet growing customer demand while ensuring associated cyber risks remain manageable. Authorized institutions are also granted greater flexibility in selecting notification channels for these transactions, provided the chosen methods align with their specific risk assessments.
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