Insurance Authority warns against fraudulent website

The Insurance Authority (IA) today (29 March 2023) wishes to alert members of the public in Hong Kong to a fraudulent website with the domain name “https://shaobank.com/” containing false or misleading information about a company named “Shao Bank” and its alleged partner company named “Go Insurance” (collectively referred to as the Companies). The Companies are not and never have been an authorized insurer or a licensed insurance intermediary under the Insurance Ordinance (Cap. 41) to carry on insurance business or regulated activities in or from Hong Kong.

Anyone who has provided his/her personal information through the website concerned or otherwise to the Companies, or has conducted any insurance transactions through the website or otherwise with the Companies, should report the case to the Hong Kong Police Force.

Members of the public are reminded to verify the status of any entity making use of the internet to solicit insurance business from the public. The full lists of authorized insurers and insurance intermediaries in Hong Kong can be found on the Register of Insurers and Register of Licensed Insurance Intermediaries on the IA website respectively.