Info Center

MPFA Chairman Mrs Ayesha Macpherson Lau published her blog post today (30 March), expressing concern about the rampant issue of unsolicited sales calls, commonly known as “cold calls”. Some fraudsters even impersonate representatives of MPF intermediaries when they carry out fraudulent telemarketing. The MPFA has put in place stringent regulatory requirements for cold calls made by intermediaries and has enhanced their awareness of the importance of protecting MPF scheme members. 

Following a series of supervisory measures by the MPFA, the number of intermediaries making cold calls to sell MPF products or services has significantly decreased since last year. In response to the MPFA’s appeal for action, all intermediaries stopped making cold calls in February this year to prevent fraudsters from impersonating them for scams or other illegal activities. This means that intermediaries will no longer engage in cold calling to market MPF.  

“If you receive cold calls of unknown origin in the future claiming to be intermediaries selling MPF, you should hang up immediately to protect yourself from potential scams,” said Mrs Lau.

She explained that intermediaries may still contact MPF scheme members by phone to follow up on MPF-related matters to provide services such as assisting with opening accounts or switching schemes. She recommended that if members of the public receive calls from individuals claiming to be intermediaries regarding MPF-related matters, they should verify the caller’s identity with the relevant MPF intermediary company to protect themselves. Information and contact details of MPF intermediary companies can be found on the MPFA website. 

She added that the MPFA will not tolerate any actions that may harm the MPF System. The MPFA has adopted a three-pronged approach to combat related fraudulent activities. 

1. Industry Supervision

• The MPFA regularly reminds the industry to strengthen measures against scams conducted under the guise of the MPF. Over the past two years, the MPFA had issued six circulars to the industry, covering measures on regulating cold calls and requiring regular reviews, and enhancing anti-scam measures.
• On 31 March, the MPFA will issue a circular reminding MPF intermediary companies to adopt appropriate measures to prevent their intermediaries from making cold calls for sales purposes.
• The MPFA has also required MPF intermediary companies to strictly monitor the sales conduct of their representatives. In case of violations, disciplinary action will be taken against the intermediaries involved, with the most severe penalty being the permanent revocation of their registration.

2. Collaborative Efforts

• The MPFA continues to collaborate with the Anti-Deception Coordination Centre of the Police, other financial regulators, and major tech companies to strengthen fraud prevention, report suspicious posts on social media, and promote anti-scam education.
• All MPF trustees and 24 MPF intermediary companies have participated in the Anti-Scam Consumer Protection Charter 2.0 launched by the Hong Kong Monetary Authority, committing not to request personal information from clients through hyperlinks sent via instant electronic messages. 
• Additionally, all MPF trustees and 15 major MPF intermediary companies that use SMS to communicate with MPF scheme members have joined the SMS Sender Registration Scheme of the Office of the Communications Authority, adding the prefix "#" in text messages to make it easier for scheme members to identify the sender.

3. Public Awareness

• The MPFA regularly disseminates anti-scam messages through outreach activities and provides scam-prevention information on social media platforms, websites, videos and media outlets.

Mrs Lau reminded members of the public that neither the MPFA nor the eMPF Platform Company will contact individual MPF scheme members to recommend MPF products or services, nor will they request scheme members to disclose MPF account details or personal information through phone calls or email hyperlinks. For more anti-scam tips, please refer to the dedicated "Beware of Scams" webpage on the MPFA website.

For the full version of the post, please visit the MPFA blog.  The blog is in Chinese only.

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30 March 2025