HKIA warns of fake insurers on social media

Scammers posed to be representatives of Dah Sing Insurance and sold motor insurance products.

The Insurance Authority (IA) of Hong Kong has issued a warning last Friday regarding deceptive sales activities on social media platforms by scammers posing as insurance intermediaries affiliated with Dah Sing Insurance, an authorised insurer in Hong Kong. 

The incident has been reported to the Hong Kong Police Force for further investigation.

The fraudsters engaged with victims, enticing them to purchase motor insurance policies through Facebook and WhatsApp messages. 

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After the victim paid the premium through the Faster Payment System (FPS) and received a cover note from the scammers, it was later discovered that the cover note was fraudulent, and no policy application had been made with DSI for the victim's vehicle.

Individuals who have shared personal information or conducted insurance transactions with suspected fraudsters related to DSI's policies are urged to contact DSI's Customer Service Hotline at (852) 2808-5000 and report the case to the Hong Kong Police Force.

The public is advised to make premium payments directly to the insurer using official methods specified by the company and to avoid making payments through individual insurance agents. In case of any suspicion regarding the identity of the parties involved, transactions should be halted immediately.