Rise In Phishing Attacks "irreversible": IT Lawmaker

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

Related News Programmes

"); });

2023-03-08 HKT 10:27

Share this story

facebook

  • Over 13,000 phishing attacks were recorded in Hong Kong in the fourth quarter of 2022. Photo: Shutterstock

    Over 13,000 phishing attacks were recorded in Hong Kong in the fourth quarter of 2022. Photo: Shutterstock

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."

RECENT NEWS

EDENA Unveils AI System To Automate Sovereign Asset Settlement

At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more

Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls

Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more

Japans PayPay Files For US IPO, Targets Valuation Above US$10B

SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more

Inference Research Launches In Hong Kong With US$20M Seed Funding

Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more

London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion

London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more

SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership

SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more