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Identity Theft Protection Measures in Hong Kong: Be Cautious Online

In an era where online transactions have become a norm, identity theft has emerged as a significant concern in Hong Kong. The ease of online access has made it possible for cybercriminals to exploit personal information and financial data, making identity theft a growing problem across the globe.

How Identity Theft Can Occur

According to law firm Tanner De Witt, identity theft can occur through various means, including:

  • Mobile phone hacking
  • Email hacking
  • Romance scams
  • Work-from-home scams

Jeff Lane, a partner in fraud and asset tracing at Tanner De Witt, notes that identity theft in Hong Kong has reached significant levels. In 2016, more than 60 new cases of fraud were reported, with two-thirds of these cases involving CEO fraud or identity theft fraud.

Precautions to Take

The increased capabilities of the internet and our reliance on it have led to a corresponding increase in internet/identity theft fraud. Lane recommends taking the following precautions:

  • Installing firewalls and anti-cyber theft software
  • Using individual passwords
  • Ensuring sensitive information is properly stored
  • Having multiple signatories for higher- value payments
  • Educating friends and family about online safety
  • Not opening suspicious emails

What to Do if You Suspect Identity Theft

If you suspect your identity has been stolen, it’s essential to act quickly. Lane suggests:

  • Alerting the police and bank to stop or recall payments
  • Keeping records of correspondence and payments made
  • Seeking legal advice if necessary
  • The police can temporarily freeze funds in the recipient’s account, giving the victim time to recover their lost funds through legal proceedings

Recovering Stolen Funds

While avoiding identity theft is crucial, recovering stolen funds is possible with swift action. Lane notes that recovery can take several months but is often successful when prompt action is taken.

Conclusion

In conclusion, it’s vital for Hong Kong residents to be aware of online threats and take necessary precautions to protect themselves from identity theft. By being cautious online and taking prompt action if you suspect your identity has been stolen, you can minimize the risk of falling victim to this type of fraud.