Comment on A Hong Kong watchdog revealed millions in unauthorized stock trading

A Hong Kong watchdog revealed millions in unauthorized stock trading

The banking watchdog revealed on Thursday that it had received ­reports from banks about unauthorized stock trading activities in at least 22 online bank accounts in at least four banks. The sum ­involved was HK$45.97 million. Although the Hong Kong Monetary Authority said in a press statement on Thursday that none of the cases reported resulted in any fund transfers to unregistered third parties thanks to a double authentication process, the authority said there were nine cases that resulted in financial losses of HK$1.56 million.

 

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