Hong Kong, renowned for its financial muscle and technological prowess, has an increasingly grim downside: it is becoming a magnet for digital fraudsters, reveals a recent report from TransUnion, an American consumer credit reporting agency., with 18% of digital transactions flagged for potential fraudulent activity in the first half of 2023. This rise in digital scams comes amid a significant uptick in online payments, influenced by the pandemic and subsequent social distancing measures.
Last year, citizens lost HK$4.8 billion to frauds, including schemes involving fake police calls and quick money scams. With more professionals falling victim to fraud between April and July, the message is clear: businesses and consumers alike need to up their game when it comes to digital security.
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