Regulatory Alerts2025-02-18
Added · Updated
Refined Measures on Real-Time Fund Transfers Made by Customers
The Hong Kong Monetary Authority issued this circular to require Authorized Institutions to implement a mandatory name matching process for real-time fund transfers regardless of transaction amount. While the previous HK$10,000 threshold is removed, institutions may set a lower threshold not exceeding HK$1,000 to balance operational efficiency with fraud prevention. Authorized Institutions must implement these refined measures by 31 May 2025 and update customer communications to reflect the changes in verification procedures.