In light of the development of mobile payment services, the Cyber Security and Technology Crime Bureau (CSTCB) ran a seminar on fighting cybercrime relating to stored value facilities (SVF). Held in partnership with Kowloon West and Hong Kong Island Regions at the Police Headquarters on February 5, the seminar drew a full house of over 250 officers from the Crime Wing and Regional and District crime units.

Superintendent Lam Cheuk-ho from the CSTCB alerted the participants that the emergence of a cashless economy associated with SVF would pose an unprecedented challenge to cyber-policing. The SVF provided by 16 licensees in Hong Kong have their unique functionalities and record-keeping standards, but at the same time, they may conceal vulnerabilities, which may be manipulated by criminals. Hence, police officers should keep abreast of the evolving financial technology landscape and acquire new skills in policing.

After the CSTCB conducted sharing sessions for Kowloon East, New Territories South and New Territories North Regions last year to enhance frontline officers' capabilities in handling cases involving SVF, they invited representatives of the Octopus Cards Limited and the Ant Financial Services Group this year to introduce their SVF and share the good practices of the SVF market as well as their collaboration with law enforcement agencies. In addition, Chief Inspector Lau Ka-ho, Senior Inspector Yeung Wan-ming and project officers from the Intelligence and Support Division of the CSTCB explained the relevant provisions of the Payment Systems and Stored Value Facilities Ordinance, functionalities and characteristics of SVF, the regulatory regime as well as investigation techniques. The seminar ended with a big round of applause.