The Hong Kong Monetary Authority (HKMA) has called on seven banks to suspend the issuance of contact-less payment credit cards.
The call came after it was found that certain mobile phone applications can be used to obtain information from these cards, local media reported on Wednesday.
The HKMA called on the banks, including Bank of China (Hong Kong) and DBS Bank (Hong Kong), to notify their customers of the risks as soon as possible, and said they must conduct risks assessments and review their existing measures to plug any security loopholes.
The authority added that the case has been referred to the Privacy Commissioner for follow-up investigation.
