The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding a rising wave of phishing scams designed to fraudulently bind payment cards to contactless mobile payment services. The regulator said on September 4, 2026, that it has received multiple reports from banks documenting cases where fraudsters successfully deceived customers into authorizing unauthorized card bindings, enabling subsequent unauthorized transactions.
- Attack Method: Phishing messages, fraudulent websites, and phone calls impersonating merchants or legitimate organizations
- Information Targeted: Payment card details, ATM personal identification numbers (PINs), login passwords, and one-time passwords (OTPs)
- Binding Channels Exploited: Mobile banking applications and two-way SMS messages
- Common Pretexts: Compensation offers for goods or services
In the documented cases, fraudsters employed various social engineering tactics to manipulate victims. They impersonated merchants and other organizations, using phishing messages and fake websites to harvest sensitive financial information. Once fraudsters obtained card details and PINs, they coerced victims into approving card-binding requests through mobile banking platforms or SMS channels, after which they could conduct unauthorized transactions using the compromised payment cards.
The HKMA has distributed the scam methodology to the banking industry and called on financial institutions to strengthen customer awareness and vigilance. The regulator emphasized that card binding represents a high-risk operation and urged the public to never click links from unknown sources, disclose sensitive financial information, or approve payment requests initiated by unverified parties. The authority also advised consumers to carefully review all banking notifications and reject any unsolicited card-binding requests.
Individuals who suspect they have been victimized are instructed to contact their bank immediately and file a police report. The Hong Kong Police Anti-Scam Helpline is available at 18222 for assistance. The HKMA is the territory’s central banking authority responsible for monetary policy, banking supervision, and financial stability.
