HK Insurance Authority issues warning about fake social media account

HK Insurance Authority issues warning about fake social media account

HK Insurance Authority issues warning about fake social media account | Insurance Business Asia

Insurance News

HK Insurance Authority issues warning about fake social media account

The fake account scammed a victim into taking out a fake motor insurance policy

Insurance News

By
Abigail Adriatico

The Hong Kong Insurance Authority (IA) has issued a warning which alerted the public about the fraudulent Instagram account falsely claiming to be associated with Geestar Insurance Agency Co. Limited (Geestar), a licensed insurance agency in Hong Kong.

In a statement on their website, the IA explained that the Instagram account named “geestarinsurance” was not affiliated with Geestar, with the insurance agency further stating that it did not operate any official Instagram account.

Furthermore, the listed contact information on the account, which included a telephone/WhatsApp number, email, and website, were not associated with Geestar. The company’s official website is http://geestar.com.hk.

The case reported to the Hong Kong Police Force involved a fraudster who had contacted and lured a victim into taking out a motor insurance policy through the social media platform and WhatsApp messages. After paying the premium through the Faster Payment System (FPS), the victim received a cover note from the fraudster which they later found out to be forged and the policy application was never actually made.

The IA encouraged anyone who has interacted with the false Instagram account and has either given their personal information or conducted insurance transactions through the account’s contact information to report it to the authorities immediately.

The regulator also reminded the public to verify the status of those they were interacting with for insurance businesses. A register containing a list of licensed insurance intermediaries in Hong Kong can be found on the IA website.

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