HK’s insurance regulator warns of fraudulent website

Duped customers urged to contact police

HK’s insurance regulator warns of fraudulent website

Insurance News

By Kenneth Araullo

The Insurance Authority (IA) of Hong Kong has issued a warning about a fraudulent website operating under the domain. The site, the IA said in a news release, falsely represents the company “Weifang Rural Commercial Bank Co. Ltd” and also falsely claims being involved in insurance activities.

The IA said this entity is not an authorised insurer or a licensed insurance intermediary under the Insurance Ordinance (Cap. 41). The entity, said the IA, is not permitted to engage in insurance business or regulated activities within or from Hong Kong.

The authority urged individuals who may have shared their personal information through this website or directly with the company, or those who have engaged in insurance transactions with them, to contact the Hong Kong Police Force. The release said it is important for those potentially affected to report their experience.

The IA also said it was important to verify the legitimacy of any entities that offer insurance services online. The release also advised the public to consult the IA’s official website, which hosts the Register of Insurers and the Register of Licensed Insurance Intermediaries. These registers provide comprehensive lists of all authorised insurers and insurance intermediaries in Hong Kong, enabling individuals to confirm the status of any insurance-related entity.

What are your thoughts on this story? Please feel free to share your comments below.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!