On 27 August 2026, the Insurance Authority (IA) and the Hong Kong Police Force (HKPF) launched a joint enforcement operation targeting suspected fraudulent activities at an examination centre run by Greater China Wemedia Association Limited, which offers examinations for the Fellow, Life Management Institute (FLMI) qualification accredited by LOMA. The operation covered searches across nine premises and resulted in the arrest of 15 individuals, including three serving and three former licensed insurance intermediaries. Given evidence of long-standing fraudulent malpractices at the centre and ineffective oversight from LOMA, the IA has immediately suspended the FLMI qualification from meeting the academic requirements for insurance intermediary licensing. A comprehensive review of all relevant qualification cases obtained through the targeted examination centre will also be conducted. This operation marks the first joint enforcement initiative since the IA and HKPF signed a cooperation memorandum in March 2024, aiming to uphold market integrity in the insurance sector and protect the legitimate interests of policyholders.
Sources: https://www.ia.org.hk/en/infocenter/press_releases/20260828.html