MPay user funds suspected of being transferred to previous phone number holders

Some members of the public have reported on online social platforms that funds in their children’s MPay e-wallet accounts were suspected to have been transferred by the previous holders of their phone numbers, and have reported the matter to the police.

In response to an inquiry from TDM, the Monetary Authority of Macao (AMCM) said its preliminary understanding is that the matter may involve a dispute over account ownership.

The case is currently being followed up by the Judiciary Police (PJ), and the financial institution concerned is actively cooperating with the investigation.

The AMCM also said it has always been highly concerned about the security of electronic payments and requires payment institutions to have appropriate identity verification measures in place for account registration, password resets, payment transactions and identity verification, to ensure payment security and protect customers’ rights and interests.

According to TDM, Macau Pass said the matter is being followed up by the PJ, and the company will actively cooperate. The company has launched an investigation into the situation reported by the user concerned.

The investigation found that the MPay system and security mechanisms are operating normally, and no abnormalities in system security have been found so far. The company will continue to follow up and handle the matter in accordance with the guidelines of the relevant authorities.

Macau Pass said MPay has always placed the security of user accounts as its top priority. It reminded users to complete real-name verification for their MPay accounts in a timely manner, properly safeguard their accounts and personal information, and never disclose important account information to others.