Tag: Face-to-Face Verification
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The Physical Firewall: How Hong Kong’s “Money Safe” Uses Face-to-Face Checks to Kill Digital Fraud
Hong Kong banks have devised a radical way to undercut fraudsters: a portion of funds can be placed in a special account from which withdrawals or transfers are possible only in person, after a visit to a physical branch. The local regulator, the Hong Kong Monetary Authority, refers to this mechanism as Money Safe. As…