Apple's iPhone 18 Pro series officially kicked off pre-orders on Saturday (12th). During Saturday and Sunday (13th), police received reports from more than 700 people alleging that their credit cards were suspected to have been fraudulently used to purchase phones online, involving around HKD14.7 million. The largest single case involved about HKD114,000. No arrests have been made so far.

A spokesperson for the Hong Kong Monetary Authority said credit card transactions have always required effective measures to ensure security and protect customer interests. Individual merchants may choose not to use or may suspend additional authentication arrangements, such as in-app authentication or one-time passwords, due to operational considerations. In such cases, merchants must bear responsibility and financial losses arising from unauthorized transactions.

The spokesperson emphasized that cardholders should carefully check transaction records. If they suspect or discover unauthorized use of their credit cards, they should notify the card-issuing bank as soon as possible, including immediately disabling the relevant credit card through online banking services. Generally, if a bank credit card account is used for unauthorized transactions and the cardholder has not committed fraud or gross negligence, the cardholder will not be liable for the unauthorized transactions.

An HSBC spokesperson said the bank had noted online discussions indicating that customers of different banks suspected their credit cards had been fraudulently used to order mobile phones. The bank will investigate for customers and, where applicable, initiate chargeback mechanisms according to credit card organization rules.

BOC Hong Kong reminded customers to immediately log into mobile banking to block the relevant credit card if they discover unauthorized transactions. The bank said its credit card customers are protected by refund mechanisms, and customers will not be liable for any verified unauthorized credit card transactions.

A Standard Chartered spokesperson said customers who discover any unauthorized transactions should notify the bank and report the case to police as soon as possible. Customers may also instantly block their credit cards through online banking or SC Mobile. The bank will immediately investigate and follow up according to established procedures and, where applicable, submit refund applications to relevant credit card organizations. If investigations confirm that the transactions were unauthorized by the cardholder, the cardholder will not be responsible for the related payments.

A Hang Seng Bank spokesperson said customers who discover suspicious credit card transactions should immediately freeze their credit cards through the Hang Seng Bank mobile application or contact the bank. During the investigation period, Hang Seng will support affected customers and, where applicable, initiate chargeback mechanisms according to credit card organization rules. The bank reiterated that if customers have used their credit cards reasonably and prudently, the bank will provide full assistance in completing refund procedures.
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AASTOCKS Financial News
Website: www.aastocks.com

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