Rise In Phishing Attacks "irreversible": IT Lawmaker

"); jQuery("#212 h3").html("

"); });
2023-03-08 HKT 10:27
IT sector lawmaker Duncan Chiu says the rise in cases of phishing and other kinds of internet fraud is an "irreversible trend", given the widespread prevalence of internet use.
Chiu was speaking to RTHK after a cybersecurity watchdog said there were over 13,000 phishing attacks in Hong Kong in the fourth quarter of 2022. He added that the government needed to continually raise public awareness over new types of cybercrime, and help small and medium-sized enterprises (SMEs) invest in cyber protection.
"It's an irreversible trend, and not just in Hong Kong," Chiu said. "This is a global issue because of the penetration of internet access and the level of internet use daily."
Asked what could be done to combat cyber crime, he said that whereas large corporations such as banks and telecommunications firms have invested in systems in place to detect cyber attacks, SMEs in Hong Kong had lower awareness of the issue.
"Many SMEs see it as an expense they can't afford," he said. "There's a lot the government can do in terms of public education and raising awareness, but also in terms of promoting common platform cybersecurity tools and information sharing about criminal activity and dubious IP addresses. The government can also provide grants to SMEs for cybersecurity solutions."
Chiu added that police were hiring more trained cybersecurity officers. "We have be on the very forefront of the latest trends and understanding what kind of crimes are being committed," he said. "It's a catch me if you can game."
TOPPAN Edge Becomes Japans First Qualified VLEI Issuer
The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more
SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more
Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin
South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more
China Funds Research On Stablecoins And Cross-Border Oversight
China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more
XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership
XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more
Brinc Launches VentureVerse Through Acquisition Of OG Club
Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more