On the night of September 12, just as Apple opened pre-orders for its new iPhones and people were still weighing whether to upgrade, text notifications started buzzing nonstop. By the next day, Hong Kong police tallied up the numbers, leaving over 700 people in total shock: their credit cards had been hacked and used to buy brand-new iPhones online. The total scam haul hit over HK$14 million, with one unluckiest victim getting cleaned out to the tune of HK$114,000 in a single run.
The case has caused a massive uproar. Police have classified it as obtaining property by deception, and with no arrests made yet, several banks are scrambling to investigate. By September 14, Apple finally weighed in, stating that orders go through checks before processing and promising to cancel the problematic transactions as fast as possible. The Monetary Authority also stepped up, making it clear that if merchants fail to use proper extra transaction authentication, they will have to shoulder the losses from these fraudulent charges.
At local tea stalls these past couple of days, the youngsters at the next table have been buzzing about nothing else. People usually trust that their cards are safe for online shopping, but when a big phone-grab day rolls around, those defenses crumble in an instant. Folks round here love to move fast when they shop, but sometimes things go so fast you don't even realize your money is gone until a string of payment alerts leaves you breaking out in cold sweat.
