All Hong Kong retail banks to offer anti-scam service, locking cash in accounts

All of Hong Kong’s 28 retail banks, including virtual ones, will offer an anti-scam service from Wednesday that requires extra verification before money can be withdrawn, with 3,200 people depositing HK$1.6 billion (US$206 million) during a trial. Hong Kong Monetary Authority deputy chief executive Arthur Yuen Kwok-hang said on Tuesday that around 20 per cent of the 3,200 customers who had used the “Money Safe” service during its pilot phase earlier this year were aged 60 or above, while 7 per...