Page 2 - Faster Payment System News Today

Adelyn Lau Taxi passengers are promised greater convenience when it comes to paying following the launch of e-payment platform Taxi Pay, whi...

Police also find 3,238, or 42 per cent, of all crimes logged in first month of this year were scams, amid city’s ongoing battle with fraudsters.

HONG KONG: Hong Kong’s ubiquitous Octopus payment system is encouraging users to switch from carrying only physical cards to having virtual wallets on their smartphones.

Virtual cards allow fare balances to be displayed at fare gates, but the technology has its limitations. Read more at straitstimes.com.

Sophisticated deepfake scam ensnares Hong Kong multinational, resulting in $25.6 million loss. Perpetrators utilize AI to mimic company officials, orchestrating convincing video conference deception. Victim executes transfers under guise of authenticity, revealing scam upon closer scrutiny. Law enforcement launches investigation, emphasizing caution and verification measures. Incident highlights evolving cyber threats, underscores need for heightened vigilance and security protocols against deep...

Hong Kong: Crime rose 28.9% in 2023

Police sound alarm after employee tricked by digital recreation of company’s finance chief and others in video call.

A Hong Kong-based multinational firm loses HK$200 million in a pioneering deepfake scam, raising concerns about the evolving cyber threat landscape and the misuse of deepfake technology.

Hong Kong: The Future Of Checking | Global Finance Magazine

As the end of cheques approaches, the Hong Kong Association of Banks will need to avoid disruption and inconvenience in the transition from traditional paper to electronic payments