HKMA Urges Caution As Bank Cyber Scams Jump In HK

The Hong Kong Monetary Authority has urged the public to be on the alert for fake bank sites, phishing emails and suspicious apps as the city saw a surge in the number of complaints last year.

The HKMA said banks reported more than 140 such scams last year, up from 44 the year before.

The authority's deputy chief executive, Arthur Yuen, said the HKMA sends out warnings about such threats regularly, but he fears that many people don't pay much attention to them.

"We release those kind of press release once every other day. Whether the people are paying attention to those, or paying enough attention to those, we are getting a bit worried," Yuen said.

"My message to the public is to stay alert all the time. But more importantly they should really, really safe keep their personal sensitive information," he said.

"Treat it much like a key to your main door," he said

The HKMA in its annual review on the banking sector said retail banks in Hong Kong saw a pre-tax operating profit growth of more than 19 percent last year.