The operator of Hong Kong’s Mandatory Provident Fund (MPF) has tightened its online security by scrapping an electronic verification system after scammers used forged identity cards to open accounts and steal residents’ pensions. Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority, said in a blog post on Sunday that the authority had…
Cybersecurity experts have urged Hong Kong residents to prioritise the use of an official one-stop digital identity app to register their accounts on the city’s new centralised pension fund platform to prevent theft after scammers stole HK$1.8 million. Some also questioned why the Mandatory Provident Fund Schemes Authority (MPFA), which manages the eMPF platform, did…
Hong Kong police have arrested five men on suspicion of posing as Mandatory Provident Fund (MPF) account holders to withdraw HK$1.8 million (US$231,300) from the city’s new online pension fund platform. The scam also prompted the Mandatory Provident Fund Schemes Authority, which manages the pension scheme, to immediately suspend its paperless verification process, known as…