Hong Kong police have reported an alarming rise in investment scams, with over 100 cases recorded in just one week, resulting in total losses exceeding HK$88 million. Among the victims was a 72-year-old woman who lost her entire life savings of HK$2.35 million after falling prey to an elaborate stock investment scheme.
The scam saw the elderly victim receive an unsolicited WhatsApp message from a man claiming to be an investment expert.
Over three months, she was persuaded to transfer funds to designated accounts through a fake investment website. The scam only became apparent when she was unable to withdraw her supposed profits, leaving her not only penniless but also saddled with HK$400,000 in debt.
Police warn that fraudsters typically approach victims through social media ads or random messages, posing as financial experts to promote "low-risk, high-return" opportunities.
They lure targets to download fake apps or visit fraudulent investment platforms, initially showing false profits to build trust before disappearing with the funds.
How to protect yourself from investment scams:
- Thoroughly research any virtual asset product before investing, understanding its features and risks
- Never transfer money to personal bank accounts for investment purposes
- Exercise extreme caution when dealing with cryptocurrency transactions
- Avoid clicking on links or visiting websites from unverified sources
- Use the CyberDefender website (https://cyberdefender.hk) or "Scameter" mobile app to assess potential fraud risks
