Top Tips For Maintaining Safe and Secure Finances in Hong Kongby Fintech News Hong Kong April 9, 2021
Cybercrime, hacking and online identity theft are all, unfortunately, on the rise in Hong Kong. In 2020, the number of technology-based crimes doubled to over 6,400 in just the first half of the year. These crimes had a significant impact as they led to losses of roughly HK$1.52 billion and have shaken the confidence and security of many Hong Kong residents.
Global events have led to a majority of the country’s population working from home and attending school lessons via online applications. As more and more people are shopping, working and learning completely online, hackers have had many more opportunities to ensnare unwitting victims. The victims of these cybercrimes span generations, as children, adults and the elderly are all using online applications more than ever before.
The Hong Kong Police Force has an entire team dedicated to technology-based crime, known as the Cyber Security and Technology Crime Bureau (CSTCB). This team is fighting to shut down the hackers and phishing attempts – and following up when these crimes have been committed.
However, the first line of defence is always with the internet user themselves and when consumers and netizens are more informed, it is much harder for hackers to succeed. Below are some of the best ways in which you can protect yourself and guard your finances while online.
Maintain awareness of phishing and hacking attempts
One of the most common ways people are hacked is through phishing emails. A phishing email is a fake email that claims to require your immediate assistance with something – oftentimes, these emails will appear to be genuine at first glance. This is intentional – the cybercriminals are trying to trick you into clicking a link and entering your personal information.
The emails will often warn you that your social media account has been breached, that you have had a bank account issue or that someone you know is in trouble. Before clicking any links, take a moment to think about the email – look at the email’s layout, format, spelling and the email address of the sender. If you are invited to click a link and enter information, show the email to a trusted family member or friend for their opinion before doing so.
Use trusted platforms for gaming
Online gambling has become incredibly popular in Hong Kong and around the world over the past decade. There are now hundreds of different online casinos to choose from, all offering an array of different games and bonuses for prospective gamblers. Online gambling can be incredibly fun and exciting, but it is worth taking your time to do your research and read reviews before registering for an online casino, as you will need to use your financial and personal information in order to open an account and play the games.
When choosing a reputable, safe and secure online casino, comparison sites have all of the information you need to open accounts in a number of different Asian countries, with some of the top Asian casino providers. One of the most popular options is bet365 – a regulated and licensed platform, which provides gamblers with a secure site on which your personal and financial information will be safely kept.
Create and use excellent passwords
One of the easiest ways for hackers to gain access to your information and social media, banking and private accounts is through passwords. If you are using a password that is very simplistic or clearly related to your life – such as your pet’s name, the town where you grew up or your mother’s maiden name – it is time to change that password. Passwords are just like PIN numbers that you would use for an ATM or debit card purchase, and they should be treated accordingly.
To keep your passwords safe, avoid using public computers at internet cafes or libraries, as public computers are no longer as secure as they once were and hackers can easily install tracking software. When using your own devices, set up two-factor authentication for your accounts so that when you log into an account, a PIN number will also be sent to your phone to enter – this will greatly limit the ability of hackers to get into your accounts.
You should also take the time to craft good quality, strong passwords, and change them regularly. There are several secure software applications available for generating passwords and storing them securely on your device.
These are just a few ways to stay safe online. Cybercriminals are constantly thinking up new ways to hack into devices and steal money and information, so it is important to watch the news and stay up to date with any new security developments in the space.