Belmont Financial Group in Hong Kong Offers Fraud Prevention Advice to Its Clients

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There are many types of fraud that are in operation in today’s e-based economy. We at Belmont Financial Group have explained the most common types of fraud, along with some useful tips to prevent becoming a victim.

Phishing, Vishing and Smishing

Phishing (pronounced fishing), vishing and smishing are all scams that involve fraudsters who use email (phishing), telephone calls (vishing) or text messages (smishing) to obtain personal information such as bank account information, credit card numbers and social insurance numbers from unsuspecting victims.

While an internet fraudster can easily obtain and share your email address on the internet, it is unlikely he or she will have a lot of additional information about you. To obtain additional information a fraudster may use an official looking, but fake email known as a phishing email.

Phishing emails usually include links to websites that appear to direct you to a legitimate company. However, these links go to fraudulent websites and any information you submit via the website is gathered by a fraudster.  Fraudsters often target companies with a large customer/member base and send thousands of phishing emails to reach as many potential victims as possible.

Belmont Financial Group has clear guidelines about the information they will request via phone or email.  If you have any concerns about a request, please contact us on +852 5803 2789.

Trojan Horses

Fraudsters have successfully found a way to extract banking information from computers by using virus programs known as Trojan horse.  A Trojan horse lies dormant on your computer, monitors your activity and then activates if you visit a targeted website, such as an online retailer or a financial institution. The program can then record keystrokes, such as usernames and passwords, and other information stored on your computer and sends them to the creator of the Trojan horse.

A Trojan horse may also allow hackers remote access to your system.  Operations which can then be conducted by the hacker include:

• Use of the machine as part of a botnet (performing automated spamming or distributing denial of service attacks)
• Data theft (e.g. retrieving passwords or credit card information)
• Installation of software, including third-party malware
•  Downloading or uploading of files on the user's computer
•  Modification or deletion of files
• Keystroke logging
• Watching the user's screen
• Crashing the computer

One of the biggest dangers with a Trojan horse is that it can be present on your computer without you even knowing about it.  Trojan horses often infect computers through attachment downloads and visiting unsecured websites.

At Belmont Financial, ensuring our clients’ accounts are secure is a top priority. We take many precautions to ensure your information is safe and our website has many security measures to protect your personal and financial information.

And now for a few tips to ensure your financial information is safe and secure, protected from common frauds:

Identity Theft

Refrain from giving personal information or account numbers to anyone until you have confirmed the identity of the person asking for it.  It is also a good idea to shred all documents containing your personal information.

Online Fraud

Beware of phishing emails that appear to come from legitimate businesses or financial institutions and don't click on links in these emails as these links go to fraudulent websites and any information obtained from you will be used to commit fraud.

Cheque Fraud & Scams

Lock and secure your cheques; never leave them in a vehicle or area where they can be easily obtained; or if someone sends you a cheque, asks you to deposit the money in your account, and then requests you forward most of the funds by wire transfer or money order elsewhere, be alert!

Card Fraud

When choosing a personal identification number (PIN) for your debit card or a personal access code (PAC) for online banking don't choose obvious numbers such as your date/year of birth, address, telephone number or SIN and never lend your card out to anyone, including friends and family.

Belmont Financial Group is a Hong Kong-based Asset and Wealth Management firm, operating its Private Client Division since 2011. For any further information, please visit www.belmontfinancialgroup.com, or contact info@belmontfinancialgroup.com, or call us on +852 5803 2789.