HSBC tightens e-wallet app security after PayMe breach allowed access to 20 accounts holding HK$100,000
- Two-step verification and text message notification added to process
HSBC has responded to an email scam in which 20 accounts were illegally accessed through its PayMe system by adding extra layers of security to the e-wallet app.
On Friday, Hong Kong’s biggest bank said users who wanted to change their personal identification number on the app would now have to follow a two-step process, while any changes in personal information would be verified via text message.
PayMe, one of the most popular e-wallet apps in the city, with a million users since its inception last year, had about 20 accounts illegally accessed last month involving HK$100,000 (US$12,770).
At the time, a police source told the Post the verification procedure on the app was too simple, and that hackers had sent out fake emails asking victims to submit their passwords to initiate an update to their accounts.
Greg Chapman, who heads the bank’s e-wallet operations in the city, said the fresh measures were designed to help ensure a secure and reliable payment service.
The new changes mean users will undergo a two-step verification process, and will be asked to reset their passwords. In the future, when a PIN is changed, the user will receive a text message, and email notification.
