Citi warns of clone in Hong Kong

The Hong Kong subsidiary of international financial services giant Citigroup Inc (NYSE:C) has published a warning regarding a clone in Hong Kong.

The regulated company says that the fraudulent entity is misusing its name. The fake entity’s website contains the names “Citi Hong Kong” and “Hong Kong Citi Group International Auction”. (At the moment of publication of this article the website showed an announcement of technical works being carried out).

The authorized company Citi Hong Kong has reported the case to the Hong Kong Monetary Authority (HKMA) and the Hong Kong Police Force.

The emergence of clone entities of financial giants is frequent in Hong Kong. In September this year, Hong Kong’s Securities and Futures Commission (SFC) has added two clones of major bank and financial services provider Wells Fargo & Co (NYSE:WFC) to its Alert List.

To view the official announcement from Citi, click here.

To view the warning on HKMA’s website, click here.

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