HKMA Fails Whack-a-mole with Fraudulent Websites

First published: 15^th September 2015

The Hong Kong Monetary Authority (HKMA) has warned that the so-called "Kowloon Global" running the website http://www.kowloonglobal.com is not, despite its claims, regulated by the HKMA or authorised to operate as a bank under the Banking Ordinance and it does not have the approval to establish a local representative office. The HKMA provides a list of authorised institutions on its website.

The design of the fraudulent website is remarkably similar to that of a fraudulent website for "HKIC Group" that was the subject of an HKMA warning in February this year, as reported in our February newsletter. This might indicate that both sites are run by the same person, but, unlike hkicgroup.com, the kowloonglobal.com domain name was registered privately. The domain was registered in July 2015.

The Hong Kong Police are investigating and anyone who has provided personal information to the website, or used it for any financial transaction should contact any local Police Station or the Commercial Crime Bureau at 2860 5012.

Updated: 24^th September 2015

The Hong Kong Police and the HKMA were asked whether the HKIC Group website was still considered to be fraudulent and about a possible link between "HKIC Group" and "Kowloon Global". The HKMA has responded, "The HKMA has reported the two suspected fraudulent websites – HKIC Group and Kowloon Global to Hong Kong Police Force for investigation and is therefore not in a position to comment further." The Police have not answered the questions at the time of writing.