Complaints Watch Issue No. 21

Our Ref: B1/15C 18 January 2023 The Chief Executive All Authorized Institutions Dear Sir / Madam, Complaints Watch The Hong Kong Monetary Authority (HKMA) has today published the twenty-first issue of its Complaints Watch. Complaints Watch is a half-yearly newsletter to share with the industry information on banking complaints received by the HKMA. It highlights the latest complaint trends, emerging topical issues, and shares good practices that authorized institutions (AIs) may find helpful. This constitutes the HKMA’s work to promote proper standards of conduct and prudent business practices among AIs. A copy of the twenty-first issue of the Complaints Watch is enclosed for your perusal. You may wish to forward it to members of your institution who have responsibilities for the selling of retail and investment products, risk management, compliance and complaint handling for reference. The HKMA also encourages AIs to join hands in educational efforts through social media and other means in cautioning customers about different types of scams as noted from complaints handling. Should you have any questions regarding this Complaints Watch, please contact us at bankcomplaints@hkma.gov.hk. Yours faithfully, Carmen Chu Executive Director (Enforcement and AML) Encl.