Security
Hong Kong Unveils Enhanced Anti-Scam Charter 2.0 to Combat Digital Fraud
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have launched the Anti-Scam Consumer Protection Charter 2.0, a comprehensive initiative that significantly enhances measures to protect the public from credit card scams and digital fraud.
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ZA Bank’s Risk Prevention Tech Thwarts HKD 4 Billion Fraud, Earns Award from Police
Hong Kong’s virtual bank ZA has reported a 400% improvement in its risk control and cybersecurity capabilities through the use of in-house developed systems. The bank’s proprietary systems now allow for real-time fraud monitoring of 100,000 transactions daily, a fourfold
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Hong Kong Banks Implements Anti-Malware Measures to Protect Customers
The Hong Kong Association of Banks (HKAB) announced that major retail banks in Hong Kong are stepping up their security measures to shield customers from evolving malware scams. Aligned with guidance from the Hong Kong Monetary Authority and the Hong
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HKMA Launches Suspicious Proxy ID Alert for Faster Payment System
The Hong Kong Monetary Authority (HKMA) has rolled out the Suspicious Proxy ID Alert for the Faster Payment System (FPS). This initiative, launched on 26 November, enhances the system’s security by alerting users to potential fraud risks when conducting transactions
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Hong Kong’s Financial Sector Unites to Fight Financial Fraud with Anti-Deception Alliance
The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Association of Banks (HKAB) and various banking institutions, has endorsed the establishment of the Anti-Deception Alliance (ADA) by the Hong Kong Police Force (HKPF) to fight against financial
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HKMA Orders Banks to Implement New Digital Banking Security Measures
The Hong Kong Monetary Authority (HKMA) has ordered banks to implement several new security measures to further strengthen the digital banking services. The new measures are designed to protect customers from fraudulent transactions, including enhanced monitoring for suspicious transactions and
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Why It Is Time to Give Payments a Seat at the Table for E-Commerce Growth
E-commerce has evolved significantly in the last few years, ushering in an era of connected payments. This era is characterised by the emergence of innovative payment types, cutting-edge payment infrastructure, and novel business models. A key symptom of the connected
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Dynamic Data Streamlines Customer Experience, Fights Fraud in Digital Banking
As the digital economy continues to surge and expand, consumer expectations for fast, secure access to products and services seem never-ending. Furthermore, when it comes to financial services, there is an entire generation of consumers cropping up who have barely
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Hong Kong Launches Anti-Scam Charter to Safeguard Consumers’ Credit Card Info
The Hong Kong Monetary Authority (HKMA) and Hong Kong Association of Banks (HKAB) has launched the Anti-Scam Consumer Protection Charter to enhance public awareness of safeguarding credit card and personal information. Led by the HKMA and the HKAB, all 23
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ZA Bank Steps up Security When Users Bind Their Visa Cards With Digital Wallets
Hong Kong’s virtual bank ZA said that its users are now required to complete additional authentication when binding ZA Card to new digital wallets. The new measure for contactless mobile payments seeks to offer a more secure spending experience and
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