The Hong Kong Monetary Authority (HKMA) has issued a public warning regarding the rise of fraudulent schemes targeting victims of financial fraud, especially in the cryptocurrency space.
Certain entities have been identified posing as law firms, offering services to recover losses from financial scams, especially those related to cryptocurrencies and digital assets.
These firms, which include names such as Dex Law Firm LLP, Morgan Bell Law Firm LLP y Watson Liddell Law Firm, have been falsely representing themselves as collaborators of the HKMA, the agency warned in a statement. release recent.
Following reports of this booming fraudulent scheme in the city, the Hong Kong Monetary Authority has urged investors to exercise utmost caution and to verify the legitimacy of any law firm offering such services. It also recommends investors contact the police if they have been the victim of fraudulent acts.
The recently issued alert by the HKMA emphasizes that the name of the institution is being misused to deceive users and investors.
Cryptocurrency holders should be on alert
According to the agency, it has received inquiries from citizens regarding instant messages or documents that falsely appear to have been issued by the HKMA. These fraudulent communications often promise users to recover or reimburse losses resulting from the fraud and can generally appear convincing.
However, the HKMA reiterates that it has no relationship with these entities and does not collaborate with law firms to issue refunds to the public. It is crucial that individuals, especially cryptocurrency holders, remain vigilant and verify the authenticity of any communication claiming to be associated with the HKMA before proceeding with any action.
On the other hand, the Hong Kong Bar Association warned that none of the three law firms singled out by the HKMA, Dex Law Firm LLP, Morgan Bell Law Firm LLP y Watson Liddell Law Firm, are duly registered on their official list.
Some safety recommendations
To avoid falling prey to potential frauds or scams, investors and cryptocurrency holders are advised to take a proactive approach to stay well informed about the HKMA’s communications and actions.
For example, if you receive any communication, it is advisable to compare it with the official messages on the HKMA website. Also, check whether the communication comes from an entity authorized by the agency by checking the records and lists on its web portal. Furthermore, investors should note that the HKMA will not request personal or financial information through unsolicited emails.
According to figures reported by Hong Kong police, more than half of cryptocurrency losses last year were related to financial fraud.
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