Cybersecurity crisis in hong kong: surge in scams wreaks financial havoc

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Online threats have surged in Hong Kong this year, with scams, phishing and malware among the most common attacks, a survey found, as a lack of cybersecurity awareness continues to plague the city. Forty-nine percent of Hong Kong respondents have experienced online threats over the past 12 months, compared with 4% in the previous period, according to a recent report by antivirus software vendor Norton. Scams were the most common online threat, affecting 34% of respondents to the survey. Nearly two-thirds of the victims lost money or time as a result. The next most prevalent threats, phishing and malware, each affected 28% of the respondents, according to the US firm, a subsidiary of Nasdaq-listed software company Gen Digital.

The increase was attributed to a surge in fraudulent activities involving cryptocurrency and online gaming platforms. ## The Rise of Online Scams in Hong Kong In recent years, Hong Kong has witnessed a significant increase in online scams, with financial losses soaring by 37% year on year in the first five months of 2024. This alarming trend has raised concerns among law enforcement agencies and the public alike.

The Hong Kong Police Force (HKPF) has been working closely with the Hong Kong Computer Emergency Response Team (HKCERT) to combat these threats. ## The Rise of Online Threats in Hong Kong In recent years, Hong Kong has seen a significant increase in online threats. These threats are not only targeting individuals but also organizations, causing significant disruptions and losses.

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