The Hong Kong Monetary Authority (HKMA) has issued a cautionary advisory regarding fraudulent schemes linked to its initiatives, including the Digital Hong Kong Dollar (e-HKD) pilot project and the cross-border wealth management mechanism. The HKMA has emphasized the importance of vigilance among the public, both in mainland China and Hong Kong, to prevent falling prey to these deceptive practices.

Instances have been reported where individuals have been misled by claims of a company being chosen for the e-HKD pilot program, promising the issuance of digital Hong Kong dollars, equity, and dividends to entice public investment. In response to these deceptive tactics, the HKMA has taken swift action by alerting the Hong Kong police and initiating investigations into the matter. The HKMA's proactive stance underscores its commitment to safeguarding the public from potential financial scams and fraudulent activities.

The HKMA's warning serves as a reminder for individuals to exercise caution and due diligence when approached with investment opportunities or schemes related to digital currencies and wealth management programs. By remaining vigilant and verifying the legitimacy of such initiatives, individuals can protect themselves from falling victim to fraudulent activities that exploit the reputation and initiatives of reputable financial institutions like the HKMA.

In light of the increasing prevalence of financial scams and fraudulent schemes in the digital age, the HKMA's advisory underscores the importance of public awareness and education in identifying and avoiding potential risks. By staying informed and exercising prudence in financial matters, individuals can mitigate the threat of falling victim to deceptive practices and protect their financial well-being.