Online shopping platforms are formed with increasingly convenient shopping and payment flow in recent years. The online shopping business is thriving, and the number of related fraudulent cases have kept rising.
Fraudsters may pose as sellers, and offer goods at bargain prices to attract buyers for purchase. Nevertheless, they generally refuse to accept payment in person, instead requiring buyers to transfer the money to designated account first before they will ship the goods, and break all contact with buyers finally. Fraudsters may also pose as buyers, and provide fake ATM receipts or falsified screenshots of online banking transfers as proof of payment, or provide buyers with a cheque which is subsequently refused by the receiving bank, to convince sellers to send them the goods.
Conducting online shopping safely with multiple precautionary measures
To safeguard your interests, please consider adopting the below measures when you shop online:
Only engage in transactions with reputable, well known or trusted merchants
Verify the identity of the buyer or seller and check the transacting party’s previous record of online transactions, credit rating and online transaction evaluation ratings or reviews for assessing counterparty reliability
Always try to buy goods through official sales channels
Fully understand shipping and refund terms before engaging in any transaction
Avoid making any large purchases for your first transaction with a seller
Keep transaction receipt as a record of your transaction
Do not just rely on an ATM receipt or screenshot of the online bank transfer record as proof of payment to assure completion of payment
Ensure both account ledger balance and available balance have been updated if the buyer makes payment by cheque
Always be alert. Protect your personal banking information including credit card number securely and do not disclose it to anyone
Never share your banking passwords, including one-time passwords (OTP) sent to your mobile phone or provided by a security device with any person in online shopping process
Disable notification previews on your mobile device(s) to make sure OTP undisclosed under lock screen
Make sure you understand the usage and purpose of an OTP before entering OTP that has been sent to your mobile phone
Report your concerns immediately to the Hong Kong Police if you are suspicious of any transactions
Hang Seng Bank cares about online shopping security. We will send SMS / email to your mobile phone number / email address in our record for certain card and banking transactions. Please call our 24-hour Customer Service Hotline on the back of your credit card if you have any enquiries.