HKMA issues warning on unlicensed financial operations by Top Asia Finance Limited

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17th August 2024 – (Hong Kong) The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding Top Asia Finance Limited, a firm that has been operating without the necessary licenses under the Banking Ordinance. The authority confirmed that the website, accessible at https://topasiafinance-hk.cTom, is not authorised to engage in banking or deposit-taking activities within Hong Kong. Additionally, the HKMA noted that the firm lacks the approval required to establish a local representative office under the same ordinance.

This caution comes amid increasing online solicitations targeting Hong Kong residents, where firms offer banking services and solicit deposits via the Internet without proper authorization. The HKMA urges the public to exercise due diligence and verify the legitimacy of any financial institution that proposes to accept deposits or offer banking accounts online.

For those seeking to confirm the status of any financial entity, the HKMA provides a comprehensive list of authorised institutions on its official website (www.hkma.gov.hk). The public can also direct their enquiries to the HKMA’s dedicated email service at [email protected] to ascertain the legitimacy of any entity claiming to operate as a bank or deposit-taking company in Hong Kong.