HKMA Says 2,310 Bank Complaints Filed In First Half

The Hong Kong Monetary Authority said it received 2,310 bank complaints in the first half of the year, up 22% from a year earlier, in the 28th issue of its Complaints Watch, according to Ming Pao. It said the increase was mainly due to closer information sharing between the Hong Kong Police Force and authorized institutions in response to severe fraud risks, which led banks to step up account review and monitoring and pushed up complaints related to bank account operations. With stronger information sharing among banks, authorities intercepted about HK$95.8 million in suspected crime proceeds from 5,938 accounts.