The Office of the Privacy Commissioner for Personal Data has issued warning letters to three foreign domestic helpers for misusing employers' personal data for loan applications without consent. Its announcement [...]

The Hong Kong government’s latest measures to strengthen oversight of licensed money lenders took effect on 1st August, resulting in several prominent finance companies withdrawing from the foreign domestic helper [...]

At a press conference of the State Council Information Office, Li Bin, deputy director of the State Administration of Foreign Exchange, said that the State Administration of Foreign Exchange will [...]

Police have arrested 29 people linked to a loan shark syndicate with a family-run money-laundering ring, where minors as young as 14 were employed to carry out red-paint vandalism to [...]

TransUnion has launched a new “Money Lender Data Hub” platform in Hong Kong to help licensed money lenders connect to and participate in the territory’s central “Credit Reference Agency” (also [...]

The Hong Kong government proposed enhancing the regulation of licensed money lenders, capping "debt servicing ratio" at 35 percent for monthly earners of HK$6,000 or less and 40 percent for [...]

A host of proposals meant to enhance protection for migrant worker-borrowers, including doing away with referees for loans, has been submitted by the Philippine Consulate to the Hong Kong government  [...]

Police announced on Monday the dismantling of a loan shark syndicate that charged excessive interest rates, resulting in the arrest of 29 individuals—including two minors—suspected of involvement in illegal debt [...]

9th December 2024 – (Hong Kong) Police launched Operation “Oceangate” from 6th to 8th December, dismantling a scam believed to be operated by triad members that targeted victims with promises [...]

Domestic workers had to submit their passports, employment contracts, and employers’ contact information to get the money, Chief Inspector Ho Yan-kit said. Hong Kong police have arrested 46 people allegedly [...]

Secretary for Financial Services and the Treasury, Christopher Hui, said in his blog that the Financial Services and the Treasury Bureau (FSTB) and the Companies Registry (CR) have been closely [...]

The Hong Kong Monetary Authority (HKMA) plans to require banks to offer at least a 7-day cooling-off period for unsecured consumer credit products, which means customers can cancel loans at [...]