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  • November 29, 2014
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  1. Banks' move to electronic statements offset by greater flood of junk mail

    Posted Nov 29th 2009, 12:00am by Staff Reporter

    ... me a loan, a large, glossy postcard inviting me to acquire another credit card and an invitation to buy mutual funds, also richly printed on several sheets of paper. So, as well as throwing ... perhaps they could do a mass mailing to give customers to chance to opt out of receiving annoying and unsolicited offers of loans, credit cards and other financial services. Even better, ...

  2. Compensation offered to roadblock cabbie

    Posted Nov 03rd 2009, 12:00am by Staff Reporter

    ... offer after complaining about the tardy response to his plight. Owner-driver Wong Wing-cho paid the HK$110,000 repair bill with his credit card early last month because he had to get the taxi back on the road. The credit card bill was due yesterday. 'Police have sent me a letter on the compensation offer, including the HK$110,000 repair fee,' he said. The police had told ...

  3. Mainland credit card debt surges

    Posted Dec 01st 2009, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai Unpaid credit card debt on the mainland has surged 126.5 per cent this year, prompting Beijing to warn banks to ease back on aggressive marketing tactics that encourage people to sign up for new cards. By the end of September, 7.43 billion yuan (HK$8.43 billion) of credit card debt was at least six months overdue, the People's Bank of China said ...

  4. Law aimed at equality for bank borrowers

    Posted Oct 14th 2009, 12:00am by Staff Reporter

    ... that mainland commercial banks were shouldering 4.97 billion yuan in unpaid credit card debt at the end of the first quarter of this year, an increase of 133.1 per cent year on year. PBOC deputy governor Su Ning said in June that one of the key factors behind unpaid credit card debt was the lack of an effective credit rating system. Having one in place would allow banks to gauge risks ...

  5. Ten-month crackdown on credit card crime to start in January

    Posted Nov 19th 2009, 12:00am by Will Clem

    ... Will Clem in Shanghai Mainland authorities are to launch a 10-month clampdown on credit card fraud following news such crimes had at least doubled over the first half of the year, state media reported yesterday. Figures released by the Public Security Bureau show police handled more than 6,300 cases involving credit card fraud over the first eight months of the year, ...

  6. Respect paves way for a successful life

    Posted Nov 07th 2009, 12:00am by Chris Davis

    ... is not advocating that cardholders should spend more, or increase their levels of borrowing, but simply use their Visa card as a lifestyle choice. In keeping with a personal passion for soccer, Cheung said ... for the integration of its consumer banking business before it was acquired by DBS Bank. He also spent 26 years with Citibank, where he was general manager of card business and responsible for spearheading ...

  7. Businessman loses nearly HK$2.5 million as bank refuses to stop fraudulent payment

    Posted Oct 27th 2009, 12:00am by Paggie Leung

    ... (HK$2.49 million) made with his China UnionPay debit card at 4.44am on October 14. The 39-year-old trading company owner- who said he was in Hong Kong when the transaction was made- discovered ... to contact police instead. 'Although at that time the bank had debited the amount from my debit card, it had not transferred the money to [the bank card network operator] China UnionPay ...

  8. Men on trial for international credit card fraud

    Posted Dec 09th 2009, 12:00am by Staff Reporter

    ... Loretta Fong Two men appeared in court yesterday for an international credit card fraud that resulted in more than US$9 million being withdrawn in less than 12 hours from 2,100 ATMs around the world, including in Hong Kong. The District Court heard that Cheung Hoi-wing would plead guilty to theft charges, while Wong Tin-yuen would plead not guilty. ...

  9. Australian accused of using others' credit cards

    Posted Jun 02nd 2009, 12:00am by Joyce Man

    ... Joyce Man An Australian teacher appeared in court for allegedly buying six iPhones using others' credit cards. Christopher Doherty, 23, from Caringbah in Sydney, entered no plea at Kowloon City Court to three counts of obtaining property by deception and one of theft. He is accused of buying the phones from two Fortress stores and Digital Action Telecom using the cards ...

  10. Credit card boom might not see surge in defaults

    Posted Jul 13th 2009, 12:00am by Staff Reporter

    ... Maria Chan The number of credit cards issued on the mainland is expected to continue expanding at a double-digit rate over the next decade but the explosive growth rate ... could surpass Japan in the total number cards in issue in the next 10 to 15 years given the nation's robust economic growth and high population. Credit card payments in Asia-Pacific were ...




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