"The Monkey Army" with a large number of fake accounts participating in the Hong Kong stock market IPO? Regulatory sources: Pure rumor.

Recently, there have been rumors circulating on social media that a team is using brokerage firms holding licenses in places like New Zealand to easily open fake accounts in large numbers through a relaxed approval process. These accounts are then used in a similar way to the Monkey Army of Sun Wukong to heavily participate in Hong Kong stock market IPOs. The account opening process does not require facial recognition verification, only the submission of identity information is needed, and funds can even be accessed using bank cards not under the account holder's name. It is estimated that the number of such fake securities accounts has increased to around 200,000. However, the Capital Market Information Service Platform "People's Verification" has learned from a source close to the regulatory authorities in Hong Kong that the rumors of a large number of "fake accounts" in Hong Kong stock market IPOs are nothing but rumors, as such technology and processes are fundamentally unachievable. The Securities and Futures Commission of Hong Kong also responded to the Capital Market Information Service Platform "People's Verification" by stating that according to the current mechanism of new stock issuances, all participants in the initial public offerings must provide investor identification information. In addition, licensed intermediaries handling orders referred from overseas must take reasonable steps to ensure that the customer identification information submitted to FINI is accurate.