Insurance Authority warns public of rising fraudulent phone scams

Insurance Authority warns public of rising fraudulent phone scams | Insurance Business Asia

Insurance News

How can one identify a legitimate caller?

Insurance News

By
Jonalyn Cueto

In a recent alert issued by the Hong Kong Insurance Authority (IA), the public is being warned about a surge in fraudulent phone calls falsely claiming association with the IA. These deceptive calls have been reported to feature pre-recorded messages, purportedly from the IA, prompting recipients to take actions regarding their insurance policies.

The IA said that it does not engage in such communication practices. A spokesperson for the IA emphasized that the authority does not initiate contact with individuals via pre-recorded calls, especially not to request actions related to insurance policies.

The IA advises members of the public to exercise caution and vigilance, particularly when receiving unsolicited calls claiming to be from official entities. If individuals have inquiries or concerns regarding their insurance policies, they are encouraged to directly contact their insurers for assistance.

In light of these fraudulent activities, the IA urges anyone who suspects they may have fallen victim to such schemes to promptly report the incident to the Hong Kong Police Force. Taking swift action can help mitigate the impact of these deceptive practices and safeguard individuals from financial harm.

In April, the IA, in collaboration with Hong Kong’s financial regulatory entities, launched the updated Anti-Scam Consumer Protection Charter 2.0. This initiative aims to encourage financial entities to adopt measures to protect clients from illegal digital activities, including prohibiting sending instant electronic messages that have hyperlinks and committing to including anti-scam warnings in communications to clients and the general public.

“The charter is a cross-sector initiative that underscores our collective resolve in combatting digital frauds and scams. The IA will strive to maintain a reliable and convenient environment for normal business transactions to be conducted, hence preserving public confidence in the insurance industry,” said IA CEO Clement Cheung.

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