Hong Kong Monetary Authority Warns of Fake Digital HKD Scams, Reports Made

The Hong Kong Monetary Authority (HKMA) has issued a notice warning the public about fraudulent activities related to fake digital Hong Kong dollar projects. These scam agreements claim to convert loans into digital HKD assets, deceiving the public into signing contracts. The HKMA clarifies that these fraudulent agreements are not associated with them and emphasizes that they will not contact citizens regarding personal financial matters or conduct fund transfers. Institutions participating in the digital HKD pilot scheme and other sandbox programs will not raise funds from the public or offer financial and investment products under the names of these related programs. The HKMA has reported the matter to the Hong Kong Police and reminds the public to verify information through official websites. If individuals have provided personal information to suspicious websites or applications, or suspect they have been scammed, they should immediately contact the police or the Criminal Information Centre of the Hong Kong Police Force.