generated US$2.24 billion of business receipts and other income.
HKMA and SFC licensees should take note of the anti-money laundering and counter-terrorist financing laws which cover their customer due diligence obligations.
Additional comments regarding the economic situation for loan-giving-, factoring-, brokerage-, finetrading- and ancillary services or what FinTech’s must be aware of in this business area
To alert the public of the risk of over-borrowing, more stringent licensing conditions have been imposed on all money lenders since 2016. Licensed money lenders are required to set out a warning statement in their advertisements, namely, "Warning: You have to repay your loans. Don't pay any intermediaries".