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Saturday, Oct 31, 2020

Fake rumor on new law to cap cash withdrawal amount

Fake rumor on new law to cap cash withdrawal amount

The Hong Kong Monetary Authority said rumors about a new regulation to cap the daily amount of cash withdrawal from banks is "fake and unfounded."
This came after netizens spread rumors that the authority will enact a law to limit cash withdrawal to less than HK$6,000 per individual each day and HK$42,000 per individual each week by the end of this month.

But the authority said in a statement yesterday that the SAR banking system in robust and sound.

“Banks have sufficient supply of banknotes to meet the needs of the public,” it said.
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