Twenty-five arrested for MPF fraud of over HK$5.7 million

The police arrested a total of 25 people on suspicion of defrauding over HK$5.7 million from the city’s retirement protection fund by making false claims.    

The police announced on Monday that they had earlier received a referral from the MPF Approved Trustees and suspected that a contributor had used false instruments.  

The police investigation found that some self-proclaimed intermediaries or brokers claim to help MPF contributors withdraw their contributions early.  

The arrested persons only needed to provide personal information, and each MPF contribution successfully withdrawn will be charged 10 percent to 50 percent commission.  

In addition, some arrested persons pointed out that, in the name of assisting in integrating MPF funds, some intermediaries required the signing of multiple documents and even conducted facial recognition procedures in mobile applications.  

They also opened virtual bank accounts and used them to defraud MPF funds.

They were suspected of defrauding the MPF Approved Trustees, claiming they would permanently leave Hong Kong or move to the mainland to withdraw their Mandatory Provident Fund contributions early.  

Some people also provide false medical certificates stating that they are completely incapacitated and cannot work.  

Approximately HK$5.7 million was involved, with the highest recorded amount being HK$600,000.  

After the investigation, the officers conducted an arrest operation from June 11 to 14, and 18 men and seven women, aged between 26 and 58, were arrested on suspicion of fraud and using false instruments.  

The 25 people arrested claimed to be construction workers, clerks, and salespeople.  

The police also seized items used in the fraud, including residence permits for Hong Kong and Macao residents, sworn statements from the Home Affairs Office, and medical certificates of incapacity during the operation.  

All were released on bail pending an investigation.