Latest Scam Alerts

Beware of Fraudulent Application for “Million Dollar Guarantee” of WeChat and Alipay
2024-05-21


Defrauding Tricks

Recently, the Police have received reports from members of the public about calls from scammers claiming themselves as customer service staff of WeChat or Alipay. They lured the victims to pay money to apply for “million dollar guarantee” service, or falsely claimed that the victims’ payment accounts had activated such service and fees will be deducted every month should cancellation not be requested, or claimed that such service was about to expire and payment was required for renewal, otherwise the victims’ credit ratings would be affected.

 

The scammers would lure the victims to download an application containing a Trojan horse, seeking to obtain the victims’ payment details such as bank card numbers and SMS verification codes to steal bank account funds; or the victims would be lured to transfer their savings to specific bank accounts and suffered pecuniary losses.

 

What is “million dollar guarantee”?

“Million dollar guarantee” is a security safeguarding service which compensates for the loss of funds due to unauthorised use of Mainland WeChat Pay or Alipay accounts by others, based on the amount of losses. When using Mainland WeChat Pay or Alipay, the “million dollar guarantee” service will be automatically activated free of charge, without payment of fees; application or renewal is not required. 

 

Members of the public can refer to the steps below for information on “million dollar guarantee” of Mainland WeChat Pay or Alipay accounts:

 

WeChat Pay account: “Me” – “Service” – “Wallet” – “Consumer Protection” – “Security Protection” – “Million Dollar Guarantee”

 


Alipay account: “My” – “Balance” – “Safeguard Fund Security”

 

 

 

Our Advice

  • When using Mainland WeChat Pay or Alipay, the “million dollar guarantee” service will be automatically activated free of charge, without payment of fees; application or renewal is not required;

  • Do not believe the scammers’ identities simply by the phone numbers they provide. You are advised to verify their identities by making enquiries to relevant organisations;

  • If you receive calls purportedly from staff of any organisations, you should search the corresponding contact phone numbers on official websites or applications;

  • Enter the suspicious URL on “Scameter” or “Scameter+”, the mobile application of “Scameter”, to assess the risk of fraud and cyber security in addition to seeking verification from relevant organisations;

  • Remind your relatives and friends to stay vigilant against deception;

  • If in doubt, please call the “Anti-Scam Helpline 18222” for enquiries.