Regulatory Alerts2015-01-23
Added · Updated
Complaints Watch Issue No. 3
The Hong Kong Monetary Authority issued Complaints Watch Issue No. 3 to highlight banking complaint trends from September to December 2014 and address critical conduct risks. The regulator requires banks to enforce strict written authorization protocols for relationship managers to prevent unauthorized transactions and to implement enhanced monitoring for remittance frauds targeting corporate accounts. These measures aim to mitigate customer financial losses, reputational damage, and regulatory liability while ensuring proper verification of beneficiary details.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share