Transunion: Awareness Of Financial Security Risk Among Hongkongers During Overseas Travel Remains Low
In summer, throngs of Hongkongers depart for travel overseas. Most holidaymakers are using a credit card when they travel, but unfortunately, the majority aren’t aware of the credit and banking risks tourists may face.
According to an online survey of 500 adults conducted by Zogby Analytics and commissioned by TransUnion (NYSE: TRU), 36% of consumers have experienced an adverse financial security incident during overseas travel. These include credit card theft, unauthorised card charges and identity theft. At the same time, only 14% of respondents expressed concerns about credit card fraud during overseas travel, and less than 12% named identity theft a top concern.
“In today’s environment, protecting one’s identity and financial information is a twenty-four by seven job. Crime doesn’t take a holiday” said Lawrence Tsong, Asia Pacific President at TransUnion. “It is essential that Hongkongers understand their financial security risks when travelling overseas and take steps to protect themselves from theft or fraud. Credit card fraud can result in serious financial losses and put a huge damper on any holiday.”
The survey also found that young people in Hong Kong are the least concerned when it comes to financial security risks from online during travel. Just 6.3% of Hongkongers aged 18 to 29 cited online payment security as a concern, while 13.5% of respondents aged 30 to 49 said they are worried about such risks. According to the survey, more men than women recognise the risks of identity theft while abroad. More men (13.8%) called identity theft a concern, compared to women (9.6%).
Tsong added, “Tourists can protect themselves by storing personal documents in a safe place, randomising PINs and passwords, being careful when giving out sensitive data online or over the phone, and regularly checking their credit history to protect themselves from unauthorised charges or unexpected purchases.”
To learn more about credit management and get a comprehensive view of their credit status, Hong Kongresidents can visit www.transunion.hk.