Hong Kong consumers distrust banks' ability to stop AI scams

Just 23% believe their financial institution can prevent deepfake fraud before funds leave.

Hong Kong consumers are open to digital money and to artificial intelligence (AI) that acts on their behalf, but they want clear regulation, a bank’s backing, and strong guardrails around AI, according to an FIS research.

The study found that 78% of Hong Kong consumers were aware of stablecoins and tokenised deposits, the highest proportion amongst the US, the UK, and Singapore.

However, only 33% of consumers familiar with stablecoins and tokenised deposits were interested in opening an account with their own bank, rising to 44% amongst Gen Z consumers.

Amongst respondents interested in stablecoins, 53% ranked government regulation and protection in their top three reasons to try an account, ahead of unique rewards or higher interest rates at 43%.

Half of respondents said they would be more comfortable using stablecoins if they were regulated like other payment methods, whilst 51% said government-backed deposit protection would make them more likely to use them.

About 56% of consumers trust their own bank most to move money instantly and securely, whilst some are also exploring AI-powered financial services. 

Some 62% had used generative AI tools for financial purposes in the past 12 months, and 74% were familiar with agentic banking.

Nearly half of respondents, or 46%, said they would allow an AI assistant to move some of their money without approving every transaction, such as paying previously authorised recurring bills and transferring money between their own accounts.

However, consumers remain reluctant to give AI full control. Only 17% were ready to hand over day-to-day money management entirely.

Some 61% ranked guaranteed refunds for AI mistakes amongst their top three requirements for trusting AI with their money, followed by a strong security record at 58% and the ability for a person to override the AI at 47%.

Concerns over fraud also remain. About 41% said they or someone they knew had been targeted by an AI-generated deepfake or impersonation scam.

Only 23% were confident their bank could stop such a scam before money left their account, the lowest proportion amongst the four markets surveyed. Just 19% were confident their bank would reimburse them.

The 2026 FIS Consumer Pulse Survey covered 1,001 Hong Kong consumers across a study of four markets: Hong Kong, the US, the UK and Singapore.