HKMA Issues Fraud Alert Over Fake Social Media Accounts Impersonating Regulator

Hong Kong’s central banking authority has issued an pressing warning about fraudulent social media accounts impersonating each the regulator and its high official, marking the most recent in a collection of rip-off alerts from the monetary watchdog.

The Hong Kong Financial Authority introduced on January 20 that pretend accounts are circulating on social media platforms, falsely claiming to signify the HKMA and Chief Government Eddie Yue. The regulator has reported the incident to Hong Kong Police for investigation.

Official Channels Solely

The HKMA emphasised that professional information and coverage updates are distributed solely by its official web site at www.hkma.gov.hk and verified social media accounts. Every other accounts or pages claiming HKMA affiliation are fraudulent, the authority said.

“The general public ought to disregard any info disseminated on suspicious web sites, social media accounts or pages,” the regulator warned.

Sample of Escalating Fraud Makes an attempt

This warning comes amid a broader wave of monetary fraud concentrating on Hong Kong residents. Simply at some point earlier, on January 19, the HKMA issued a separate rip-off alert associated to banks. Earlier this month, the authority flagged phishing messages linked to Financial institution of China (Hong Kong) on January 7.

The frequency of those warnings suggests scammers are more and more concentrating on Hong Kong’s monetary infrastructure and the establishments that regulate it. Impersonating a central financial institution authority represents a big escalation—these scams sometimes intention to lend false credibility to funding schemes or extract private monetary info from victims.

What This Means for Crypto Traders

For crypto market contributors in Hong Kong, the warning carries explicit relevance. The HKMA has been actively concerned in shaping town’s digital asset regulatory framework, making it a major goal for impersonation by dangerous actors selling fraudulent crypto schemes.

Traders ought to confirm any regulatory bulletins by official HKMA channels earlier than appearing on them. The regulator doesn’t solicit investments or request private info through social media direct messages.

Hong Kong Police are investigating the fraudulent accounts. The HKMA has not disclosed what number of pretend accounts have been recognized or which platforms they appeared on.

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