After multiple users received text messages about unrecognized transactions, HSBC denied that its online systems had been compromised, although the bank also acknowledged detecting some unusual movements in some credit card accounts: “We assure our users that monitoring systems remain working normally,” the message adds.

The bank offered apologies, as many users continue to receive alerts about unrecognized charges via SMS and at the moment it is impossible to contact their customer service. Through HSBC’s social media, hundreds of users complained about not being able to access these platforms, which extended the fear of a cybersecurity incident affecting banking systems: “We continue to receive a high volume of calls every hour, please accept our sincere apologies for the inconveniences we have caused you,” HSBC adds. 

Many people have not yet received direct communication from the bank, so they are still waiting to receive news about the status of their credit cards. On the other hand, cybersecurity experts mention that it is relatively easy for threat actors to get compromised payment cards, either by using phishing campaigns or even by purchasing this information in illegal hacking forums, so potentially affected users should remain alert to any possible attempt at electronic fraud.

An increasingly popular method of attack is known as Man-in-The-Middle (MiTM): “Imagine you are performing an online transaction; a threat actor can intercept this information-sharing process to extract their account number, secret keys, or other details,” a recent security report says.

Payment card users are advised not to interact with content attached to suspicious-looking emails, as well as avoid sharing financial details through any means. 

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