Digital scams in Hong Kong 10% higher than global average

Online forums and dating sites were the most targeted by scammers. 

Digital frauds in Hong Kong are 10% higher than the global average, according to a TransUnion report. 

Financial services saw the largest year-on-year jump (29%) in the rate of suspected digital fraud. Online forums and dating sites were the most targeted by scammers, with authorities detailing 500 fake dating scams involving $243m in losses. 

In terms of attempt rate during the period, the retail sector (9.5%) reported the second-highest rate followed by financial services (5.5%). 

Amongst generations, Gen Zs and Millennials were mostly targeted. Five in 10 of Gen Z respondents were targeted in the last three months. Meanwhile, 41% of Millennials said they were also targeted and had the highest rate of victimisation at 7%. 

Moreover, ‘vishing’ (fraudulent phone calls), was the most common scheme at 36%, followed by phishing at 33%.