Fraud losses exceed HK$5.2 billion in eight months
Hong Kong lost over HK$5.2 billion to fraud in January-August 2026, Arthur Yuen said on October 13. The Hong Kong Monetary Authority (HKMA) Deputy Chief Executive spoke at Standard Chartered Bank's Anti-Fraud Cinema opening and premiere.
Losses dwarf cinema receipts
Yuen put 2025 fraud losses at HK$8.1 billion.
Losses in the first eight months of 2026 exceeded HK$5.2 billion, roughly five years of cinema receipts against Hong Kong's 2025 box office of about HK$1.1 billion.
Citing international financial security data, he said three in four Hong Kong residents were targeted by scammers in the past year.
All 28 retail banks participate in the Financial Intelligence Evaluation Sharing Tool (FINEST), exchanging financial crime information to detect fraud networks and strengthen customer risk warnings.
An upgrade at the end of 2025 enabled sharing of personal account information, extending coverage to more than 95 percent of bank accounts.
Four layers against fraud
The HKMA works with banks and law enforcement across four layers: individual banks, interbank exchange, bank-customer safeguards and public education.
Banks must use police anti-scam data more extensively to identify mule-account networks early.
Customer tools include online banking security measures and deposit protection controls.
Yuen described recurring scam tactics: attractive offers or investments, fabricated emergencies and romance fraud.
The cinema initiative brings fraud education into the community.
Pause before paying
Yuen's message puts customer vigilance alongside banks' detection and information-sharing tools.
The HKMA's 2025 campaign urged people to stay calm, give nothing away and verify or seek help.
He urged cinema visitors to pause before transfers and withhold account information until identities are verified.