E. Prohibition of certain form of security

E. Prohibition of certain form of security

A money lender is not permitted to demand or accept any of the following as security for a loan:

1. Hong Kong Identity Card, passport or similar identification document;
2. bank passbooks; and
3. photograph of the borrower, guarantor or security provider or any of their respective family members.

Any person who contravenes this requirement commits an offence. The maximum penalty is a fine of HK$100,000, and imprisonment for 2 years.