Financially motivated cyberattacks have skyrocketed in Hong Kong in recent years. Police data reveal that financial losses due to cybercrime jumped from HK$340 million in 2012 to over HK$2.77 billion in 2018.
Hackers have many ways of operating, but some of the better known cybercrimes affecting businesses include fraudulent websites, CEO email scams, hijacking and using phishing emails to access company networks. No organization is immune. Large corporations, SMEs and government agencies in Hong Kong have all suffered at the hands of cybercriminals.
Despite this growing threat, many companies still do not have adequate cyber defence capabilities, which puts their data and businesses at risk.
Ken Lee Lap Man, Senior Inspector of Police, Collaboration Team, Cyber Security and Technology Crime Bureau, will reveal to members what are some of the most common technology crimes and the latest scams, and how businesses can avoiding falling into their trap.
Flora Wong Sau Yee, Senior Manager, Retail Payment Oversight Division, Monetary Management Department, Hong Kong Monetary Authority, will explain the Hong Kong's stored value facility (SVF) regulatory regime so that companies can be better informed about the considerations in accepting SVF payments in an era of smart devices and online transactions.