Ransomware Cases Rise in Hong Kong Amid Decline in Technology Crimes

Despite an overall decline in technology crimes in Hong Kong during the first three quarters of the year, ransomware cases recorded an increase of approximately 18 percent. Police officials stated that AI-powered cyberattacks are behind this rise.

Senior Inspector Raymond Lam Cheuk-ho of the Cyber Security and Technology Crime Bureau stated that cases involving the use of AI agents and other types of artificial intelligence in cyberattacks were recorded even last month. In the January-September period, technology crime cases across Hong Kong decreased by 11.5 percent, falling from 24,370 to 21,573. Financial losses during the same period dropped from 4.59 billion Hong Kong dollars to 3.9 billion Hong Kong dollars, marking a 15.1 percent decrease.

During the same period, ransomware cases rose from 34 in the same period last year to 40, an increase of 17.6 percent. In contrast, hacking cases fell by 21.6 percent, from 37 to 29. Meanwhile, the Hong Kong police deployed an AI analysis engine called Rapid to remove more than 51,000 phishing links during a year-long joint operation with Interpol.