Consumer Protection
Hong Kong Banking Complaints Surge 16% in 2025 as Account Issues Spike
HKMA reports 4,005 banking complaints in 2025, with account operation issues jumping 38%. Regulator urges banks to improve customer communication.
Crypto Scams Surge: Staying Alert During Holiday Season
As the holiday season approaches, scams targeting crypto users are on the rise. Learn how to identify and protect yourself from these fraudulent schemes.
Hong Kong Launches Anti-Scam Consumer Protection Charter 3.0
The Hong Kong Monetary Authority unveils the Anti-Scam Consumer Protection Charter 3.0, enhancing collaboration among financial, tech, and telecom sectors to combat fraud.
Hong Kong Monetary Authority Updates Telemarketing Code to Limit Calls
The Hong Kong Monetary Authority has introduced a revised Code of Practice for telemarketing to enhance consumer protection and limit call frequency.
ACE Exchange President Michael Wang Arrested
Michael Wang, President of ACE Exchange, was recently arrested on charges of fraud and money laundering, marking a significant event in the cryptocurrency industry.
CFTC Report Underscores DeFi Risks and Calls for Action
The CFTC report on DeFi underscores significant risks to the U.S. financial system, national security, and consumer protection, emphasizing the need for increased understanding, regulation, and collaboration in the sector.
UK Cryptocurrency Exchanges Adapt to Enhanced Regulatory Standards
The UK is intensifying regulatory standards for crypto exchanges under the Financial Services and Markets Act, aiming for parity with traditional financial services. Exchanges must comply with stringent risk assessments and finance tests, impacting both domestic and offshore entities.
FDIC Mandates New Signage for Digital Platforms Starting 2025
The FDIC has updated its signage requirements, mandating digital display of a new black and navy blue sign on websites, apps, and ATMs from 2025 to align with modern banking practices.
US Senators Urge FTC to Address AI-Enabled Scams Targeting Older Americans
US Senators have written to the FTC, urging action against AI scams targeting older Americans, emphasizing the need for detailed data tracking and effective countermeasures.
FCA Unveils Guidance on Cryptoasset Promotions Compliance
The UK's Financial Conduct Authority has issued a finalised non-handbook guidance on Cryptoasset Financial Promotions, aiming to clarify compliance with new laws and balance consumer protection with innovation for long-term economic growth.