Hong Kong Banks Told to Adopt Fraud Framework Within Three Months

Hong Kong fraud framework plans are advancing as the Hong Kong Monetary Authority urged banks to standardise procedures for handling customer fraud claims. Local media reported that the HKMA asked the Hong Kong Association of Banks to respond by 1 December, with adoption expected within three months of the final draft. The proposal covers authorised payments and transfers made through Hong Kong accounts, which are currently assessed case by case. The HKMA said liability in such scams often falls into a grey area, and the framework will clarify shared accountability among financial institutions. The move forms part of broader anti-fraud measures being introduced by regulators and industry groups across the city in 2025.