Hong Kong Financial Institutions Urged to Boost Security Standards as Authority Warns of Scams

HKMA Issues Warning on Financial Institution Security Breaches

The Hong Kong Monetary Authority (HKMA) has sounded the alarm on the dangers of financial institution security breaches in Hong Kong, revealing that several fake websites and email messages purporting to be from official HKMA channels have been identified.

Fake Websites and Communications Identified

• According to insiders, these fake websites and communications are believed to be involved in a range of nefarious activities, including identity theft and phishing scams.
• The scammers behind them claim to offer banking or other services, while also asking victims for sensitive information such as account details, passwords, and personal identification numbers.

HKMA Guidelines on Safeguarding Financial Information Online

To protect the public from these scams, the HKMA has issued a series of guidelines on how individuals can safeguard their financial information online. These include:

• Verify official email and phone communications: The HKMA will never initiate emails or phone calls requesting people to disclose or confirm their personal or financial data.
• Use secure websites: The HKMA’s official website operates under two domain names - http://www.hkma.gov.hk and http://www.info.gov.hk/hkma. Individuals are advised to type either of these domain names into their browser’s address bar or bookmark the genuine website.
• Report suspicious activity: The HKMA has set up a public enquiry service to receive reports of suspicious messages or websites purporting to be related to the HKMA.

HKMA Urges Institutions to Enhance Security Standards

In response to the growing threat of financial institution security breaches, the HKMA is urging all institutions operating in Hong Kong to review and enhance their security standards.