Digital payment services have become an integral part of daily life, with many people now using e-wallets for transactions in Hong Kong and abroad. Yet, are you fully aware of the potential risks involved with these services? While electronic payment platforms implement robust security measures, the greatest threats often stem from the way we use them.

For instance, while traveling internationally, have you ever used a public Wi-Fi network to make a payment in order to conserve your mobile data? Unsecured public Wi-Fi can pose significant risks, as cybercriminals may create fake networks or compromise existing hotspots to intercept your data, steal funds from your e-wallets, or fraudulently access your connected credit cards or bank accounts.

Another prevalent tactic involves phishing SMS messages masked as alerts for “unusual account activity” or “risky transactions,” enticing recipients to click on links leading to counterfeit bank or e-wallet login pages, where their credentials are stolen. Scammers also create fake advertisements on social media, promoting discounted concert tickets or hotel packages. Victims are then directed to download malicious apps, disguised as shopping platforms, from unofficial sources in order to make payments.

Keep the following tips in mind to strengthen the security of digital payments:

1. Exercise caution on public networks: refrain from making payments or accessing your e-wallet or bank account while connected to public Wi-Fi.
2. Stay alert for suspicious SMS and emails: avoid clicking on links in text messages or emails, and always confirm the information through official channels.
3. Keep your system and apps up to date: download mobile apps exclusively from trusted or official sources, and regularly update your phone’s operating system and applications to protect against vulnerabilities.
4. Activate transaction notifications: enable real-time alerts for your e-wallet transactions, and promptly notify the appropriate organizations if you notice any unusual activity.

Exercising a bit more caution can provide added peace of mind when using digital payment services. You may also visit the anti-scam page on the website of IFEC to check out other common online scams and anti-scam tips.