Regulatory Alerts2026-07-24
Added · Updated
Complaints Watch Issue No. 28
The Hong Kong Monetary Authority reports a 22% year-on-year increase in banking complaints for the first half of 2026, totaling 2,310 cases, with the primary driver being a 64% surge in complaints regarding the operation of banking accounts. The regulator highlights that this rise is linked to enhanced intelligence sharing between banks and the Police, which resulted in the interception of approximately HKD 95.8 million in suspected crime proceeds from 5,938 accounts. Additionally, the Authority commends a bank for its empathetic handling of a customer in financial distress by reducing interest rates, while urging other institutions to modernize rigid processes, such as accepting verbal authorizations and accelerating credit record corrections, to meet digital-era customer expectations.