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Hong Kong Monetary Authority Complaints Watch February 2024: Total of 1,550 Complaints of Which 1,201 are Fraud-Related Complaints, Top 5 Complaints are Credit Cards 26%, Banking Services 22%, Fund Transfer Disputes 11%, Service Quality 10% & Service Quality 10%, 96 Cases of Mis-Selling
9th February 2024 | Hong Kong
The Hong Kong Monetary Authority (HKMA) has released the Complaints Watch February 2024 for the period July to Dec 2023, with a total of 1,550 complaints of which 1,201 are fraud-related complaints. The top 5 complaints are credit cards 26%, banking services 22%, fund transfer disputes 11%, service quality 10% & service quality 10%. There are 96 cases of mis-selling, which represents 6% of total complaints. HKMA: “The Hong Kong Monetary Authority (HKMA) published today (2 February) the Complaints Watch Issue No.23, which highlights the latest banking complaint trends, emerging topical issues, and areas that Authorized Institutions (AIs) and members of the public may be alert to. It aims at promoting proper standards of conduct and prudent business practices among AIs as well as fostering financial consumer education. This issue of Complaints Watch contains two feature articles “E-communication with customers” and “Reporting of conduct incidents”. In addition, some tips are shared with banks’ complaint handling officers on “Use of Data and Technology”. The Complaints Watch is available on the HKMA website.”
“ Hong Kong Monetary Authority Complaints Watch February 2024: Total of 1,550 Complaints of Which 1,201 are Fraud-Related Complaints, Top 5 Complaints are Credit Cards 26%, Banking Services 22%, Fund Transfer Disputes 11%, Service Quality 10% & Service Quality 10%, 96 Cases of Mis-Selling “
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Hong Kong Monetary Authority Complaints Watch February 2024: Total of 1,550 Complaints of Which 1,201 are Fraud-Related Complaints, Top 5 Complaints are Credit Cards 26%, Banking Services 22%, Fund Transfer Disputes 11%, Service Quality 10% & Service Quality 10%, 96 Cases of Mis-Selling
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