The Hong Kong Monetary Authority (HKMA) issued a series of recent “bank-related fraud alerts” in December, warning that fraudsters are again copying local banks' web sites and login screens to steal customer data and money.
In a recent warning, the HKMA highlights fraudulent web sites and faux web banking sites impersonating the Bank of East Asia, with links circulating in unsolicited messages and emails.
The central bank reiterates a transparent message: Banks in Hong Kong don’t send SMS or emails with embedded links that take customers on to web banking sites, and so they don’t ask for login passwords or one-time passwords by phone, email or SMS.
How the scams often work
According to HKMA press releases and related statements, the present wave of attacks follows a well-recognized pattern:
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Scammers register domains which might be very just like real bank URLs
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They clone login screens for web banking or full web sites
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Victims are tricked into “updating details,” “unlocking accounts,” or “securing funds” via text messages, emails, messaging apps, or online advertisements.
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Once victims enter their credentials on the fake site, attackers use this information on the actual bank's website to debit accounts
In previous cases, similar fake web sites were arrange to mimic China CITIC Bank International's web banking service. This prompted the HKMA to issue a special warning reminding the general public that reputable banks don’t forward transactions via embedded links in messages.
A broader trend: fake “official” digital currency systems
The latest fraud warnings fit into an extended pattern of fraudsters attempting to reap the benefits of Hong Kong's push into fintech and digital currencies.
In 2024, the HKMA warned that some corporations falsely claimed to be a part of its e-HKD central bank digital currency pilot and used this story to market “investment products” and attract deposits. The regulator stressed that official pilot participants were only listed on the HKMA website and wouldn’t raise funds from the general public.
Separately, the Hong Kong Mortgage Corporation (HKMC), which is under the umbrella of the HKMA, reported a cloned website in mid-2025 that largely replicated its official corporate page, forcing one other public warning that the fake site had no connection to the actual institution.
Regional trade media have also noted that the HKMA has needed to issue repeated warnings as local banks report fake web sites, phishing apps and quick message scams that try to steal online banking credentials.
Taken together, this shows that fraudsters are finding it increasingly easier to impersonate not only industrial banks, but additionally government-affiliated financial brands and digital currency initiatives with a purpose to gain trust.
Why this matters for crypto and fintech users
For crypto and Web3 users, these warnings are relevant for several reasons:
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Many investors fund exchange accounts directly from Hong Kong bank accounts, so compromised web banking credentials can quickly turn into compromised crypto positions.
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As Hong Kong experiments with e HKD and develops a more open system for virtual assets, fraudsters are more likely to mix traditional banking language with the buzzwords “CBDC,” “stablecoin,” or “crypto investment” to make scams appear more credible.
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Some foreign crypto platforms have previously misused the term “bank” of their branding, which the HKMA has already flagged as misleading or potentially illegal if it suggests that an organization is regulated as a bank when it isn’t.
In short, traditional phishing and faux banking sites now find themselves in the identical threat landscape alongside fake “digital currency trials” and mislabeled crypto firms.
What HKMA tells the general public
In its recent warnings, the HKMA repeatedly repeats a practical checklist for everybody in Hong Kong:
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Do not click on links in unsolicited text messages, emails or social messages that claim to be out of your bank
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Always enter your bank's official URL directly into your browser or use the trusted mobile app
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Never share login passwords, one-time passwords, or full bank card information via phone, email, or messaging apps
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If you think you have got used a fraudulent website, contact your bank immediately. The contact details come from official sources
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Report suspected cases to the Crime Wing Information Center of the Hong Kong Police Force
The HKMA maintains a dedicated page listing current “bank-related fraud alerts”, with links to every affected bank’s alerts so customers can check the main points directly.
What to look at next
Given the frequency of warnings in December, it is probably going that Hong Kong regulators and banks will further tighten public communications through digital channels, including:
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More visible fraud warning banners on banking and government sites
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Tighter oversight of domain registries that mimic large financial institutions
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Closer coordination between HKMA, police and major banks in real-time takedown of phishing sites
For anyone working within the crypto or fintech space, the message is straightforward: don't assume that “official-looking” or “CBDC-branded” web sites are real, and all the time check HKMA's own pages or your bank's verified channels before sending money or sharing information.
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