What Changed
- HKMA disclaimed all ties to the fraudulent loan scheme and referred the matter to the Hong Kong Police Force.
- HKMA reiterated that it never contacts individuals or requests fund transfers regarding personal financial matters.
- HKMA confirmed that participating firms in its e-HKD Pilot Programme cannot solicit public funds or offer associated investment products.
The Hong Kong Monetary Authority (HKMA) has issued a public warning regarding a fraudulent loan scheme deceptively claiming to be connected to the HKMA and its digital currency project, the e-HKD. This clarification directly impacts members of the public, financial consumers, and compliance professionals monitoring regulatory developments surrounding central bank digital currency (CBDC) pilots in Hong Kong SAR.
According to an official press release issued on October 26, 2026, the HKMA received a large volume of public enquiries concerning a scam that deceives individuals into signing agreements under the false assertion that the loans provided will be converted into digital Hong Kong dollar assets. The HKMA stressed that the fraudulent loan scheme and agreements have no connection whatsoever to the monetary authority.
To ensure regulatory clarity and protect the public from financial deception, the HKMA issued three key clarifications:
1. Direct Public Outreach: The HKMA does not contact individual members of the public or request fund transfers regarding any personal financial matters.
2. Programme Solicitations: All participating firms within the e-HKD Pilot Programme and other sandbox programmes operating under the HKMA are explicitly prohibited from soliciting funding from the public or offering any wealth or investment products associated with these official programmes.
3. Police Referral: The HKMA has formally reported the fraudulent cases to the Hong Kong Police Force for investigation.
Members of the public who have disclosed personal information to the fraudulent website or mobile application, or who suspect they have fallen victim to the scam, are advised to contact the Hong Kong Police Force or its Crime Wing Information Centre at 2860 5012. Regulatory information and official announcements can be verified directly on the HKMA website at www.hkma.gov.hk.
This update highlights the ongoing regulatory risks associated with digital currency pilot initiatives, emphasizing that central bank sandbox participants must maintain strict separation between pilot testing and public capital solicitation.
Who May Be Affected
Members of the public, legal and compliance professionals, and participating firms in the HKMA e-HKD Pilot Programme and sandbox programmes.
Cross-Border Context
Relevant to international businesses and legal observers tracking digital currency (CBDC) regulatory standards and financial fraud risks in Hong Kong SAR.
What to check next
- Verify official e-HKD announcements on the HKMA website at www.hkma.gov.hk.
- Contact the Hong Kong Police Force Crime Wing Information Centre at 2860 5012 if personal data was submitted to suspected fraudulent applications or websites.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.