[Hong Kong Financial Services and the Treasury Bureau Acting Secretary Christopher Hui to Take Enforcement Action Against Unlicensed Payment Platforms] Hong Kong Acting Secretary for Financial Services and the Treasury, Christopher Hui, stated that enforcement actions will be taken against unlicensed payment platforms under the statutory regulatory framework to maintain financial stability and protect the rights of customers and the public. According to Hong Kong's Payment Systems and Stored Value Facilities Ordinance, issuing or operating stored value facilities without a license is illegal. The Hong Kong Monetary Authority will intervene to handle suspected cases of unlicensed operations and refer them to law enforcement agencies when necessary. (Source: Mobile Payment Network)