14 October 2026
The Insurance Authority (IA) recently took disciplinary action against six individuals by banning them from becoming insurance intermediaries or suspending their licences for a period of between six and 13 months. They are Ms Lam Nam (Licence number: IE4851), Ms Lang Chit (Licence number: IH6136), Ms Liang Shuxian (Licence number: IF9212), Ms Ng Chi Wah (Licence number: JD8060), Mr Yeung Chung Chak (Licence number: IE7224), and Ms Zhang Xindan (Licence number: IM1120).
These individuals contravened the internal controls put in place by their appointing insurers in assisting customers to make false declaration that they had purchased bank drafts involving some HK$7.3 million to settle premium payments, while doing so on their behalf.
Ms Maria Tsui, Head of Enforcement of the IA, stressed that “Although robust internal controls are of vital importance in preventing Money Laundering and Financing of Terrorism (ML/FT) activities, strict compliance by licensed insurance intermediaries remains to be the key in safeguarding the status of Hong Kong as an international financial centre.”
“Since ML/FT offences carry heavy penalties, licensed insurance intermediaries should keep abreast of and fully observe the prevailing regulatory requirements.” she added.
Further information is available under “Enforcement News” and the Register of Licensed Insurance Intermediaries on the IA website.
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