NUMBER OF THE DAY
That’s the total of Hong Kong’s cybercrime losses in just seven months: about USD 460 million, up 18% from the previous year despite fewer reported cases.
🎯 AI makes criminals smarter too: Hackers are using artificial intelligence to target wealthy victims. In hacking cases specifically, damages skyrocketed 11-fold to HK$39.4 million (≈ USD 5 million) while case numbers fell by 35%.
🏪 Circle K paralyzed: The convenience store chain with 400 outlets recently fell victim to a cyberattack. Electronic payments were down for days — only Octopus cards and cash were still accepted.
Watch: Hong Kong’s cybercriminals are getting more efficient: fewer attacks, higher haul per case. AI-driven victim selection marks a new era of cybercrime where quality beats quantity.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
