Hong Kong financial regulatory agencies are teaming up with large technology and telecommunications companies to strengthen the fight against online fraud.

On July 9, the Hong Kong Monetary Authority, the Securities and Futures Commission, and other organizations jointly launched the "Consumer Protection Against Fraud Memorandum 3", establishing a cooperation framework with several international large technology companies and telecommunications companies to combat online fraud. Participating organizations in "Memorandum 3" include Douyin, Google, Meta, Microsoft, WeChat, Weibo, Xiaohongshu, China Mobile Hong Kong, China Unicom Hong Kong, and others.