The HKMA, along with the Hong Kong Association of Banks (HKAB) and the banking sector, supports the launch of the Anti-Deception Alliance (ADA) by the Hong Kong Police Force (HKPF). The ADA aims to enhance the anti-money laundering ecosystem’s ability to detect, disrupt, and deter scams. By bringing together the ADCC and bank staff, ADA will improve the effectiveness of the existing stop payment mechanism and enable proactive identification of potential scam victims. This collaboration, along with other initiatives, will strengthen the fight against fraud and financial crime while reducing financial losses to the public. The launch of ADA is seen as a significant step in protecting the community and enhancing public confidence in using digital financial services in Hong Kong.
Resource: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/11/20231124-4/