Hackers had broken into the internet stock trading accounts of eight clients of Hongkong and Shanghai Banking Corp. Ltd. and BOC Hong Kong (Holdings) Ltd. (02388.HK) over the past two weeks, resulting in fraudulent transactions amounting to a combined HK$6.86 million, the Hong Kong Economic Journal reported Thursday.
It is still unclear whether the transactions resulted in losses to the bank clients, although the funds have not been relocated so far, the newspaper said.
Depositors are not required to bear liabilities resulting from unauthorized transactions unless fraud or serious negligence on the part of the depositors is proven, according to the Code of Banking Practice promulgated by the Hong Kong Monetary Authority.
The HKMA said the lenders discovered the hacking incidents during regular scrutiny of their electronic banking platforms, and subsequently reported them to the authority.
The concerned clients have been notified and cases have been filed with the police by the lenders, a spokesman for the banking regulator said.
A spokesman for The Hongkong and Shanghai Banking Corp. urged clients to use e-alerts, the bank’s service that provides clients with current information on their accounts, including transaction notifications.
Meanwhile, BOC Hong Kong said it will decide on a case by case basis whether it will compensate affected clients, adding that the incidents had nothing to do with the bank’s internet security system.
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