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HKMA Warns Over Fake Swiss Banking Website

by Mary Swire, for LawAndTax-News.com, Hong Kong

05 January 2004

The Hong Kong Monetary Authority (HKMA) on Wednesday issued a warning over a fraudulent website advertising the "Bank of Swisscredit", the latest in a series of such scams.

The website is understood to be an attempt to gain access to the bank account details of unwary internet users, a practice known as "phishing".

The soi-disant 'bank' claims to have its head office in Zurich, with branches in Hong Kong and Canada offering a variety of banking and investment services.

In addition to urging members of the public to report any dealings that they have had with the fraudulent website, the HKMA announced in a statement that:

"Given the global nature of the Internet, members of the public are reminded to verify the status of any organisation making use of the Internet to solicit deposits from the public. They can check the status of any entity in Hong Kong which solicits deposits from the public with the HKMA by calling its public enquiry hotline 2878 8222."

This is the fifth such website reported in Hong Kong in just over a month.

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