HK Families Lose Money As Music Tutoring Site Shuts
"); jQuery("#212 h3").html("

"); });
2022-09-16 HKT 14:15
The closure of a mainland music tutoring platform has left 33 families in Hong Kong out of pocket, the Federation of Trade Unions (FTU) said on Friday.
VIP Peilian was one of the largest online music tutoring platforms on the mainland and was endorsed by well-known pianist Lang Lang.
The FTU said it had received complaints from 33 people in Hong Kong who reported losing around HK$900,000 between them after pre-paying for lessons. One person alone was said to have lost HK$250,000.
A woman surnamed Tsui said she turned to the online platform for piano lessons for her son because it was cheaper than face-to-face classes. She said she has lost HK$15,000.
Lawmaker Bill Tang said the FTU asked for assistance regarding the closure from the SAR government and Beijing's liaison office, but it will be difficult to get people their money back.
"I observed that prepaid services were of high risk. If such a service or company is a cross-border one, the risk is relatively higher," he said.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more