The Hague Convention prohibits the use of expanding or fragmenting bullets in warfare (often incorrectly believed to be prohibited in the Geneva Conventions), but hollow point bullets are one of the most common types of civilian and police ammunition. In fact, in many jurisdictions it is illegal to hunt game with ammunition that doesn't expand, and many target ranges also forbid full metal jacket ammuntion (which is more likely to ricochet).
In slang, the hollow point bullet is also referred to as the dum dum, and is similar to the cross point which uses two slits instead of a pit. Recreational shooters often refer to hollow points as "JHPs", from the common manufacturer's abbreviation for "Jacketed, Hollow Point".