Hong Kong says Chong Sing Heritage Trust an unauthorized bank

The bank does not have authorization to carry a banking business in Hong Kong.

Hong Kong Monetary Authority (HKMA) said that the entity “Chong Sing Heritage Trust Bank” does not have authorization to carry a banking business in Hong Kong.

In a statement, the central bank said that the company does not have approval under the banking ordinance to run a business of taking deposits or establish a local representative office in Hong Kong.

“[Members] of the public are reminded to verify the status of any organisation making use of the internet to offer bank accounts to, or to solicit deposits from, the public in Hong Kong prior to transferring any funds to, or providing any personal information to, any such organisation,” HKMA said in a statement on its website.