Author: Nancy Lee

Case Background In the world of livestreaming e-commerce, false prosperity has become a concern. Consumers report that popular items in livestream rooms often have questionable quality, and some rooms artificially inflate traffic and positive reviews, misleading buyers. Media investigations reveal abnormal data spikes, where viewership surges within minutes, inundating chat with irrelevant information. Insiders suggest...

Case Background Hong Kong has seen a surge in cybersecurity incidents, with a 50% increase in system intrusions in 2023, leading to HK$2.1 million in losses according to the news of HKET yesterday. The rise of AI-driven threats like deepfakes necessitates a focus on identity security — ensuring only authorized users have access. Traditional web...

Case Background Singapore’s thriving e-commerce landscape is not without its challenges. Let’s delve into the risks that both platforms and consumers encounter: Scalping Risks: Scalping, a common phenomenon, robs consumers of welfare benefits. Criminals exploit loopholes and preferential policies to register multiple accounts or use automated tools for improper discounts. Past severe scalping attacks have...

Case Background Jewelry’s membership database is suspected of being hacked. Lukfook has stated it intends to contact the police. Currently, it cannot confirm whether any customer information has been compromised. A hacker recently claimed on the “Breakthrough Forum” that they have the membership information of 5 million Luk Fook members for sale, priced at 25,000...

Case Background In New Jersey, insurance fraud ranks as the second-largest white-collar non-violent crime, trailing only tax evasion. Shockingly, insurancefraud.org’s latest report reveals that insurance fraud accounts for a staggering $308.6 billion annually, driving up insurance costs and burdening policyholders. The report shows 9% of respondents don’t view insurance fraud as a wrongdoing; they see...

Case Background In recent years, there has been a 900% surge in online-provided deepfake videos, as highlighted by a KPMG report. These AI-generated manipulations pose significant risks: 1) Pornographic Content Dominates: Among 95,820 deepfake videos, 98% fall into the pornographic category. Women are disproportionately targeted, with many featuring entertainment industry figures; 2) Women at Risk:...

Case Background In July 2022, the U.S. Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) issued a warning about scammers using “Deepfake” technology to impersonate job seekers during remote interviews. These fraudsters aim to defraud companies, steal payroll, and pilfer trade secrets. How does the scammer impersonating job seeker? 1) Fake Job Postings: Scammers...

Case Background Few months ago, two students with 13- and 14-years old middle school boys from Miami, Florida of USA, were arrested by the Police Department on charges of creating nude photos of their classmates using AI DeepFake technology. According to information released by the police, the supspects were accused of using an unnamed AI...

Case Background On February 15, 2024, cybersecurity firm Group-IB uncovered a sinister threat: the GoldPickaxe malware. GoldPickaxe preys on unsuspecting iOS users, using a blend of social engineering and deepfake technology. It has both iOS and Android versions, with current impact primarily in Vietnam and Thailand. GoldPickaxe does not directly steal users' bank funds, but...

Case Background In 2019, Bank of Guizhou Co., LTD 貴州銀行 ("Bank of Guizhou", stock code: 6199.HK) was successfully listed on the main board of the Hong Kong Stock Exchange (HKEX), becoming the first HKEX-listed financial institution from Guizhou Province. As the sole city commercial bank established under the auspices of the Guizhou Provincial Government, the...