Regulatory Alerts2025-04-14
Added · Updated
New Anti-Digital Fraud Measures: E-Banking Security ABC
The Hong Kong Monetary Authority requires Authorized Institutions to implement three enhanced e-banking security measures to protect customers from evolving digital fraud, including the use of AI and deepfakes. These measures mandate that banks facilitate authentication via bound devices by default, empower customers to deactivate high-risk functions like online transfer limit increases, and improve the Suspicious Account Alert mechanism. The regulator expects these changes to be adopted for all retail bank customers to mitigate emerging threats and reduce fraud rates.