HKIA and peers unveil Charter 3.0 to strengthen scam defence

It brings together financial regulators, technology and telecommunications companies.

The Hong Kong Insurance Authority (IA), Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC), and Mandatory Provident Fund Schemes Authority (MPFA) have launched the Anti-Scam Consumer Protection Charter 3.0, marking a further step in efforts to combat financial fraud.

The Charter 3.0 builds on the earlier versions rolled out in 2023 and 2024. 

It brings together financial regulators, technology and telecommunications companies to establish a collaborative framework aimed at reducing scams and frauds that target the public. 

The initiative is supported by the Consumer Council, Hong Kong Association of Banks, Hong Kong Police Force, and the Office of the Communications Authority.

Charter 3.0 introduces six principles focused on reporting suspected scams, advertiser checks, internal monitoring, enforcement of terms of service, and joint public education efforts.

HKMA Chief Executive Eddie Yue said the Charter reflects a unified public-private sector response to scams. 

SFC CEO Julia Leung emphasised the importance of cooperation with tech and telecom firms to tackle online fraud at its source.

IA CEO Clement Cheung highlighted the role of the platform in boosting public education and resilience. 

MPFA Managing Director Cheng Yan-chee called for vigilance from the public to protect MPF savings and encouraged reporting of suspected scams.