Complaints Against Debt Collection Agents Employed by Authorized Institutions

The Hong Kong Monetary Authority (HKMA) has released the results of the industry survey conducted during the first half of 2023 regarding complaints against debt collection agents (DCAs) employed by authorized institutions (AIs). Out of the 32 AIs that utilized the services of DCAs and assigned a total of 414,755 accounts to 20 different DCAs, only 10 complaints were received against 5 DCAs by 4 AIs. This marks a decrease compared to the previous period, where 19 complaints were lodged against 7 DCAs by 10 AIs in H2 2022. The rate of complaints per 1,000 assigned accounts also decreased from 0.04 in H2 2022 to 0.02 in H1 2023. It is important to note that no complaints were submitted by unrelated third parties. Additionally, there were no reported instances of breaching the Code of Banking Practice in the first half of 2023.



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