Complaints Against Debt Collection Agents Employed by Authorized Institutions

The Chief Executive

All Authorized Institutions

Dear Sir/Madam,

I write to inform you of the results of the industry survey on complaints against debt

collection agents (DCAs) employed by authorized institutions (AIs) for the first half of

2023.

During the reporting period, 32 AIs used the services of DCAs and assigned 414,755

accounts to 20 DCAs. A total of 10 complaints against 5 DCAs were received by 4 AIs

(compared with 19 complaints against 7 DCAs received by 10 AIs in H2 2022). The

incidence of complaints per 1,000 accounts assigned has decreased from an average of

0.04 in H2 2022 to 0.02 in H1 2023. No complaints were lodged by unrelated third

parties. Please see Annex for details.

No instance of a breach of the Code of Banking Practice was reported in H1 2023.

Yours faithfully,

Alan Au

Executive Director (Banking Conduct)

Encl.

c.c. The Chairperson, Hong Kong Association of Banks

The Chairperson, The DTC Association

Secretary, Code of Banking Practice Committee

(Attn: Ms Alieza Chan – HKAB)

Secretary for Financial Services and the Treasury

(Attn: Mr Justin To)

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Note (∗): Figures for H2 2022 have been revised to reflect updated figures reported by AIs.