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The banking sector has stopped some 200 victims from being defrauded by notifying them that they are transferring money to a suspected “stooge account,” said Ronick Chan Chun-ying, who represents the sector in the Legislative Council.

Chan said yesterday police and major banks have taken various measures in response to recent scams, citing the exposure of an online advertisement of dogmeat sales as a scam that tricked nine victims out of HK$1.3 million after they had shared personal details through a fraudulent mobile app.

Chan said the force and bankers had looked closely at some stooge accounts that were only used for receiving funds that were fraudulently obtained and notified those who had transferred money to the accounts.

Banks, he added, would also exchange information on the accounts of “puppet companies” and study the privacy implications of sharing personal puppet accounts.

The industry will also carry out additional authentication or confirm transactions with customers when they involve large amounts in the hope of preventing fraud, Chan said.

He also called on the Hong Kong Monetary Authority and the police to take reference from Singapore’s latest measure launched last month, which required all banking apps to automatically stop transactions when an unknown app was detected on users’ smartphones.

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