Hong Kong’s watchdog warns of cold callers

Hong Kong’s Securities and Futures Commission (SFC) has joined the growing group of financial regulators having issues with cold callers.

The watchdog today published a warning, informing the public of a fraudulent technique that has been gathering pace. Cold callers have been contacting potential investors and have been presenting themselves as representatives of the SFC. The cold callers have been persuading people to make use of various investment opportunities.

The Hong Kong regulator notes that it does not offer investment or similar opportunities. No one claiming to do so is genuine.

The SFC is not the first regulator to have such issues. To take a more recent example, the UK Financial Conduct Authority (FCA) warned in May this year that a person named William Howarth is calling UK investors while claiming to be from the FCA and is trying to push them to use his investment advice.

People who have been contacted in similar fashion are encouraged to report such cases to respective regulators and/or police.

To view the official announcement by the SFC, click here.

Read Also: