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Letters

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At 10.55pm one evening last year, my bank’s security system flagged a suspicious transaction on my credit card. It declined the transaction and sent me a two-way confirmation SMS. My card was temporarily locked.
For a brief moment, the bank’s defence worked.
But at that same moment, I was deep inside a two-hour WhatsApp video call scam. The caller kept me under constant psychological pressure. I had little chance to think independently, let alone read the bank’s SMS carefully.
Distracted and under pressure, I replied “Y”. The bank unlocked my card immediately. Over the next half-hour, 16 unauthorised transactions were approved – totalling more than HK$150,000 (US$19,100).
The bank blocked the first attempt. But one SMS reply – sent while I was being manipulated – was enough to tear down every defence. This is a systemic failure.
According to the Anti-Deception Coordination Centre, Hong Kong recorded 43,212 deception cases in 2025, with total losses of HK$8.12 billion. Frontline officers told me that for the type of scam I suffered, involving mainland perpetrators, the detection rate is extremely low. Each case consumes hours of police work including cross-border coordination. With several cases every day, the annual drain on police resources is considerable.
These resources should be used fighting serious crime, not being wasted on an outdated technical vulnerability that banks can surely fix.
SMS one-time passwords (OTP) were designed in the early 2000s on one simple assumption: “You have the phone, so you are the one authorising the transaction.”
That assumption has collapsed. Scammers now use video calls and screen sharing to hijack victims’ attention and force them to input OTPs under psychological control. OTP systems can verify that the phone is present – but they cannot tell whether the person holding the phone is acting freely.
There are four immediate steps we can take. First, phase out SMS OTP entirely with a clear, mandatory timetable. Singapore did this after the OCBC SMS phishing crisis in 2021-22. Hong Kong cannot lag behind.
Second, build a “long call plus abnormal transaction” alert system. When a customer is on a call lasting more than 30 minutes and tries to make an unusual payment, the transaction should be automatically delayed by at least 30 minutes, and a manual call back must be made.
Third, create a legal category for “authorisation under coercion”. Increasingly, financial authorities recognise that banks have a duty to intervene when anomalies are detected.
Fourth, establish real-time data sharing between banks and the police. When a bank’s risk control system triggers a high-risk alert, the information should be pushed automatically to the police system, enabling an officer to call the customer immediately for verification.
Hong Kong is an international financial centre. That means its financial security standards must be world-class. But today, this city is using early 2000s SMS technology to fight 2026 AI-driven fraud. This is systemic backwardness.
Technology must evolve, but fairness cannot wait. Give us back a financial system that is truly safe.
Anthea Tang, Kowloon Bay
Keep illegal betting in check during World Cup season
In a recent survey of more than 10,000 Hongkongers conducted by a local Chinese-language media group, over 40 per cent of respondents reported having relatives or friends who had placed bets with illegal bookmakers within the past year. According to the report, the three most common ways of finding out about these illegal betting platforms were through social media, messaging apps and online ads.
We know illegal betting is a problem; this number shows how widespread it is.
Football fans are now eagerly waiting for the World Cup to kick off on June 11 with the first of over 100 matches in total. To spice up the games, some people will gamble on the match results.
In Hong Kong, the only legal betting operator is the Hong Kong Jockey Club. But I know many who would choose to place their bets with illegal bookmakers, not only because they usually offer a better payout, but also because some would allow punters to delay payment.
The Fifa World Cup final comes around every four years. It’s a great time for football fans to get together in a convivial environment to catch the action and support their favourite teams. There must be no let-up in the government’s effort to combat these illegal bookmakers. Public education must play a major role.
If we must place a bet, why not have a wager among friends, with a dinner treat as the winning prize? Let’s welcome and enjoy the World Cup with excitement that comes not from gambling but from the match action and the victories of our beloved teams.
Randy Lee, Ma On Shan


Hong Kong must strengthen its banking system against scams

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Scams and swindles

As an international financial centre, Hong Kong must ensure its financial security standards are world-class. Photo: Jelly Tse

My finance expertise was no defence against online scammers

Cambodian authorities display equipment at an alleged online scam operation at a condominium in Phnom Penh, Cambodia, on March 11. Photo: EPA

Pedestrians pass the lion statues outside HSBC Hong Kong’s head office in Central. Photo: Elson Li

Gold scams are a reminder that crime prevention must keep up

A jewellery store in Tsim Sha Tsui on January 28. Photo: Sam Tsang

Elderly scam victims lose HK$850,000 on average, but ones who know finance lose more

A survey by Hong Kong police has found that elderly people who are more educated and have investment experience are more vulnerable to investment scams. Photo: Jelly Tse

The highest amount withdrawn from a sham investment platform among respondents was HK$1 million, but the victim ultimately lost HK$5.4 million, according to Superintendent Theodora Lee. Photo: Jelly Tse

Tightened rules for Hong Kong’s money lenders will protect helpers

The Asian Migrants Coordinating Body holds a protest to call for a living wage and better working conditions for migrant domestic workers in Hong Kong, in front of the Central Government Offices, on May 1. Photo: Nora Tam

Opinion

Readers call for stronger systemic defences as technology evolves, and no let-up in efforts to combat illegal betting ahead of the World Cup


Readers call for stronger systemic defences as technology evolves, and no let-up in efforts to combat illegal betting ahead of the World Cup.


Crime in Hong Kong

Hong Kong

Banking & finance

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Readers call for stronger systemic defences as technology evolves, and no let-up in efforts to combat illegal betting ahead of the World Cup

Readers call for stronger systemic defences as technology evolves, and no let-up in efforts to combat illegal betting ahead of the World Cup