Hong Kong’s insurance watchdog alerts people to phoney websites.
India VS Hong Kong: A New 1 Insurance Watchdog Alerts:
Swindled clients are advised to call the police
A warning has been issued by Hong Kong’s Insurance Authority (IA) regarding a fraudulent website that uses the domain.
According to a news release from the IA, the website falsely purports to be associated with insurance-related activities and falsely portrays the company “Wei fang Rural Commercial Bank Co. Ltd.”
According to the Insurance Ordinance (Cap. 41), the IA stated that this organisation is neither a licences insurance intermediary nor an authorised insurer.
The entity is not allowed to conduct regulated activities or the insurance business from or within Hong Kong, according to the IA.
The authorities asked anyone who might have given their personal information to the company directly or through this website, or those who have
should get in touch with the Hong Kong Police Force if they are involved in insurance transactions with them. According to the release, it’s critical that people who might be impacted share their experiences.
Pak VS Hong Kong:
The IA added that it was crucial to confirm the authority of any organisations that provide insurance services online.
The public was also urged to visit the IA’s official website, which houses the Register of Licences Insurance Intermediaries and the Register of Insurers, according to the release.
These registers offer thorough listings of all licences insurance providers and intermediaries in Hong Kong, making it possible for people to verify the legitimacy of any organisation involved in the insurance industry.
An additional cautionary note earlier this month:
The Hong Kong regulator also warned the public earlier this month about fraudulent selling practices on social media platforms, which involved people making fraudulent claims to be agents for the authorised insurer Dah Sing Insurance Company (1976) Limited (DSI).
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