research-article

Free access

Technical opinion
What drives the adoption of antiphishing measures by Hong Kong banks?

Authors:

Indranil Bose,

Alvin Chung Man LeungAuthors Info & Claims

Communications of the ACM, Volume 52, Issue 8

Pages 141 - 143

https://doi.org/10.1145/1536616.1536643

Published: 01 August 2009 Publication History

All formats PDF

Abstract

Introduction

Phishing mongers and posers have taken the world by a storm and it is estimated that the annual financial loss due to phishing scams is at least US $320 million. Hong Kong has been a hotspot of phishing attacks and since majority of phishing incidences occurring in the world are related to the financial services industry, banks in Hong Kong have been frequent targets. We conducted a study of Hong Kong banks in 2005 and 2007 to assess their phishing readiness and to understand the driving forces that shaped their adoption of anti-phishing measures (AM) over time. We searched the security related information available on the Web sites of the Hong Kong banks to determine AM adopted by them. We scored the banks based on the adoption of AM and related it to characteristics of banks and other plausible external factors.

References

[1]

Berghel, H. Phishing mongers and posers. Comm. ACM 49, 4 (Apr. 2006), 21--25.

Digital Library

Google Scholar

[2]

Bose, I. and Leung, ACM. Unveiling the mask of phishing: Threats, preventive measures, and responsibilities. Comm. AIS 19, 24 (Apr. 2007), 544--566.

Google Scholar

[3]

Chan, I. Better authentication allays online banking fears. ZDNet Asia (2007); www.zdnetasia.com/insight/specialreports/0,39044853,62020506,00.htm.

Google Scholar

[4]

Financial Services Technology Consortium. Understanding and countering the phishing threat: A financial services industry perspective (2005); www.fstc.org/projects/docs/FSTC_Counter_Phishing_Project_Whitepaper.pdf.

Google Scholar

[5]

Hong Kong Monetary Authority. Fraudulent bank websites and e-mails (2004); www.info.gov.hk/hkma/eng/press/2004/20041007e4.htm.

Google Scholar

[6]

Liu, P., Seyyed, F.J. and Smith, S.D. The independent impact of credit rating changes - The case of Moody's rating refinement on yield premiums. Journal of Business Finance&Accounting 26, 3-4 (1999), 337--363.

Google Scholar

[7]

Moore, T. and Clayton, R. Examining the impact of website take-down on phishing. In Proceedings of the Anti-phishing Working Groups 2nd Annual eCrime Researchers Summit (Pittsburgh, PA, 2007), ACM Press, 1--13.

Digital Library

Google Scholar

Cited By

View all

Purkait S(2013)Open Proxy: A road block for Phishing investigationsi-manager's Journal on Information Technology10.26634/jit.2.1.21422:1(22-33)Online publication date: 15-Feb-2013
https://doi.org/10.26634/jit.2.1.2142
Bose ILeung A(2013)The impact of adoption of identity theft countermeasures on firm valueDecision Support Systems10.1016/j.dss.2013.03.00155:3(753-763)Online publication date: Jun-2013
https://doi.org/10.1016/j.dss.2013.03.001
Purkait S(2012)Phishing counter measures and their effectiveness – literature reviewInformation Management & Computer Security10.1108/0968522121128654820:5(382-420)Online publication date: 23-Nov-2012
https://doi.org/10.1108/09685221211286548
Show More Cited By

Index Terms

Technical opinion

What drives the adoption of antiphishing measures by Hong Kong banks?

Recommendations

The Closer Economic Partnership Agreement (CEPA) between China and Hong Kong SAR

On 29 June 2003, Hong Kong Special Administrative Region (SAR) and the Mainland China signed the Closer Economic Partnership Arrangement (CEPA) which opened 18 service sectors including certain telecommunications services to Hong Kong investors. However,...
Realized volatility of index constituent stocks in Hong Kong

High-frequency financial data are useful for studying the statistical properties of asset returns at lower frequencies, and they have been widely used to study various market microstructure related issues. However, most studies to date have been ...
Hong Kong and Singapore: Two models of telecommunications regulations?

This article examines how telecommunications regulation in Hong Kong and Singapore has evolved since 1970s and in particular, how the boundaries between the telecommunications and broadcasting sectors have been increasingly blurred as the two cities ...

Comments

Information & Contributors

Information

Published In

Communications of the ACM Volume 52, Issue 8

A Blind Person's Interaction with Technology

August 2009

132 pages

ISSN:0001-0782

EISSN:1557-7317

DOI:10.1145/1536616

Issue’s Table of Contents

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

Publisher

Association for Computing Machinery

New York, NY, United States

Publication History

Published: 01 August 2009

Published in CACM Volume 52, Issue 8

Permissions

Request permissions for this article.

Request Permissions

Check for updates

Qualifiers

Research-article
Popular
Refereed

Contributors

Other Metrics

View Article Metrics

Bibliometrics & Citations

Bibliometrics

Article Metrics

5
Total Citations
View Citations
819
Total Downloads

Downloads (Last 12 months)186
Downloads (Last 6 weeks)34

Reflects downloads up to 28 Feb 2025

Other Metrics

View Author Metrics

Citations

Cited By

View all

Purkait S(2013)Open Proxy: A road block for Phishing investigationsi-manager's Journal on Information Technology10.26634/jit.2.1.21422:1(22-33)Online publication date: 15-Feb-2013
https://doi.org/10.26634/jit.2.1.2142
Bose ILeung A(2013)The impact of adoption of identity theft countermeasures on firm valueDecision Support Systems10.1016/j.dss.2013.03.00155:3(753-763)Online publication date: Jun-2013
https://doi.org/10.1016/j.dss.2013.03.001
Purkait S(2012)Phishing counter measures and their effectiveness – literature reviewInformation Management & Computer Security10.1108/0968522121128654820:5(382-420)Online publication date: 23-Nov-2012
https://doi.org/10.1108/09685221211286548
Lai FLi DHsieh C(2012)Fighting identity theftDecision Support Systems10.1016/j.dss.2011.09.00252:2(353-363)Online publication date: 1-Jan-2012
https://dl.acm.org/doi/10.1016/j.dss.2011.09.002
Vishwanath AHerath TChen RWang JRao H(2011)Why do people get phished? Testing individual differences in phishing vulnerability within an integrated, information processing modelDecision Support Systems10.1016/j.dss.2011.03.00251:3(576-586)Online publication date: 1-Jun-2011
https://dl.acm.org/doi/10.1016/j.dss.2011.03.002

View Options

View options

PDF

View or Download as a PDF file.

PDF

eReader

View online with eReader.

eReader

Magazine Site

View this article on the magazine site (external)

Magazine Site

Login options

Check if you have access through your login credentials or your institution to get full access on this article.

Abstract

References

Cited By

Index Terms

Recommendations

The Closer Economic Partnership Agreement (CEPA) between China and Hong Kong SAR

Realized volatility of index constituent stocks in Hong Kong

Hong Kong and Singapore: Two models of telecommunications regulations?

Comments

Information

Published In

Publisher

Publication History

Permissions

Check for updates

Qualifiers

Contributors

Other Metrics

Bibliometrics

Article Metrics

Other Metrics

Citations

Cited By

View options

PDF

eReader

Magazine Site

Login options

Full Access

Share

Share this Publication link

Share on social media

Affiliations