PAO Bank Limited has upgraded its “Money Safe” feature to strengthen customer protection against fraud, in line with the latest anti-fraud measures introduced by the Hong Kong Monetary Authority.

With immediate effect, all retail banking customers can now lock part or all of their deposits directly through the PAObank mobile banking app, providing an additional layer of security and greater control over their funds.

Commenting on the enhancement, Ronald Iu, chief executive of PAObank, said the rise in fraud cases had reinforced the importance of safeguarding customer deposits.

“Protecting customers’ funds remains a core responsibility of banks,” he said. “PAObank fully supports the HKMA’s anti-fraud initiatives and continues to strengthen our protection measures, giving customers greater autonomy and flexibility in managing their funds. The upgraded ‘Money Safe’ service further enhances the safeguards available to all customers, and reflects our commitment to leveraging technology to deliver a safer and more reliable banking experience.”

The enhanced Money Safe feature allows customers to activate protection at any time via the PAObank mobile banking app. Once activated, customers can isolate or lock part or all of their deposits, preventing any outward transfers of the protected funds through any channel.

To access locked funds, customers are required to visit a PAObank office in person for identity verification. Following verification, the funds will be released within three working days, balancing strong security controls with practical accessibility.

Further information is available at www.paob.com.hk. Customers may also contact PAObank via the mobile banking app or through its customer hotline on +852 3762 9900.

Re-disseminated by The Asian Banker