HKIA bans four, fake certificates in agent applications

Three of the individuals presented certificates from a non-existent university in China.

Hong Kong’s Insurance Authority (HKIA) has imposed bans on four individuals who used fraudulent academic certificates to apply for insurance agent registration between 2014 and 2019.

Three of the individuals presented certificates from a non-existent university in China. 

The fourth person’s educational institution confirmed that it did not issue a certificate or have any record of the individual’s graduation. 

One individual, who admitted to the charges, is banned for 23 months. The other three face a 35-month ban.

The HKIA emphasises that these disciplinary actions highlight the seriousness of using false documents, which undermines industry integrity and public trust. 

Such misconduct jeopardises the credibility of legitimate practitioners and necessitates stringent penalties. 

The HKIA’s actions reflect the regulatory framework in place before it took over from previous bodies on 23 September 2019. 

Under the current regulations, similar offences could result in a $50,000 fine and six months in prison.