Hong Kong group alleges MPF fraud

Are MPF service providers playing dirty? they are, according to the HKRSA.

The Hong Kong Retirement Schemes Association HKRSA has sent letters to the Mandatory Provident Fund Authority and the Independent Commission Against Corruption ICAC - a government taskforce, requesting the government investigate potential cases of bribery by a handful of MPF service providers, says Anthony Griffiths, a director of the Association.

It's a question of paying cash to employers to sign them up as clients, he explains. He says allegations have been brought to him by industry players that a few bad apples among the 26 authorized MPF service providers have given cheques to employers in return for getting the business. If the employers then can use this cash in any which way, it constitutes...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222