Payment system alert launched

The Hong Kong government has published a press statement to inform of the launch of the „Faster Payment System (FPS) Suspicious Proxy ID Alert“ to enhance fraud prevention in financial transactions. This Alert is the outcome of a joint collaboration between the Hong Kong Police Force (HKPF) and various financial institutions operating in Hong Kong. The key objective of the Alert is to warn users about potential fraud risks associated with FPS proxy IDs before they initiate transactions.
The Alert builds on the anti-fraud search engine, Scameter, of the HKPF which allows the search for fraudulent entities, names, email addresses, phone numbers, etc. Any transaction initiated by users using dedicated mobile apps of participating institutions will undergo scrutiny in Scameter. When a payee’s FPS proxy ID (like mobile numbers, email addresses, or FPS Identifiers) matches those labeled as „High Risk“ on Scameter, users will receive an alert message cautioning them about the elevated risk of fraud.
Currently, a total of 44 institutions have integrated this alert mechanism when providing real-time fund transfer services.